Analysts Set SoundThinking, Inc. (NASDAQ:SSTI) PT at $14.00

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.00.

SSTI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundThinking in a research report on Friday, March 27th. Wall Street Zen upgraded SoundThinking from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Cantor Fitzgerald lowered SoundThinking from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $16.00 to $10.00 in a research report on Wednesday, January 7th.

Insider Buying and Selling at SoundThinking

In related news, major shareholder Veradace Partners Lp bought 105,880 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $755,983.20. Following the completion of the purchase, the insider directly owned 2,008,368 shares in the company, valued at $14,339,747.52. The trade was a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 137,417 shares of company stock valued at $979,843. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently bought and sold shares of the company. Kopion Asset Management LLC lifted its position in shares of SoundThinking by 52.1% during the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after buying an additional 333,170 shares during the last quarter. Wasatch Advisors LP lifted its holdings in SoundThinking by 42.9% during the second quarter. Wasatch Advisors LP now owns 534,237 shares of the company’s stock valued at $6,974,000 after purchasing an additional 160,451 shares during the last quarter. Yost Capital Management LP boosted its position in SoundThinking by 62.3% during the third quarter. Yost Capital Management LP now owns 292,200 shares of the company’s stock worth $3,524,000 after purchasing an additional 112,200 shares during the period. Mackenzie Financial Corp boosted its position in SoundThinking by 50.2% during the fourth quarter. Mackenzie Financial Corp now owns 203,411 shares of the company’s stock worth $1,640,000 after purchasing an additional 67,981 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new position in shares of SoundThinking in the second quarter worth about $402,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

SoundThinking Price Performance

Shares of SSTI stock opened at $6.77 on Thursday. The firm has a 50-day moving average of $6.84 and a 200-day moving average of $7.64. SoundThinking has a one year low of $5.78 and a one year high of $17.43. The company has a market cap of $87.67 million, a P/E ratio of -9.15 and a beta of 1.21.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). SoundThinking had a negative return on equity of 12.81% and a negative net margin of 9.05%.The firm had revenue of $24.79 million for the quarter, compared to analysts’ expectations of $24.68 million. As a group, research analysts expect that SoundThinking will post -0.45 earnings per share for the current fiscal year.

SoundThinking Company Profile

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.