Lake Street Capital Has Lowered Expectations for SoundThinking (NASDAQ:SSTI) Stock Price

SoundThinking (NASDAQ:SSTI) had its target price cut by investment analysts at Lake Street Capital from $19.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price target points to a potential upside of 98.64% from the company’s previous close.

Several other research analysts also recently weighed in on SSTI. Wall Street Zen downgraded SoundThinking from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Zacks Research upgraded shares of SoundThinking from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Cantor Fitzgerald decreased their price target on shares of SoundThinking from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday. Citizens Jmp cut their price objective on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a research report on Thursday. Finally, Roth Capital reissued a “buy” rating and set a $20.00 price target (down from $30.00) on shares of SoundThinking in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

SoundThinking Stock Performance

Shares of SSTI stock traded down $1.38 on Thursday, reaching $7.05. The stock had a trading volume of 393,474 shares, compared to its average volume of 66,184. SoundThinking has a 1 year low of $6.29 and a 1 year high of $19.43. The stock has a market cap of $90.15 million, a P/E ratio of -9.02 and a beta of 1.17. The company has a 50 day simple moving average of $11.11 and a 200 day simple moving average of $12.97.

SoundThinking (NASDAQ:SSTI) last announced its earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $27.97 million. SoundThinking had a negative return on equity of 13.76% and a negative net margin of 9.74%. SoundThinking has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that SoundThinking will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at SoundThinking

In related news, CEO Ralph A. Clark sold 16,161 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total transaction of $190,699.80. Following the sale, the chief executive officer directly owned 588,638 shares of the company’s stock, valued at approximately $6,945,928.40. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 18,925 shares of company stock worth $223,967. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in SoundThinking by 160.5% during the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after purchasing an additional 1,688 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of SoundThinking by 23.1% in the third quarter. Mackenzie Financial Corp now owns 135,430 shares of the company’s stock valued at $1,633,000 after acquiring an additional 25,431 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SoundThinking by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 184,182 shares of the company’s stock valued at $2,221,000 after purchasing an additional 3,771 shares in the last quarter. R Squared Ltd grew its holdings in shares of SoundThinking by 35.1% during the third quarter. R Squared Ltd now owns 16,184 shares of the company’s stock worth $195,000 after buying an additional 4,204 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of SoundThinking by 7.6% in the third quarter. JPMorgan Chase & Co. now owns 47,346 shares of the company’s stock worth $571,000 after buying an additional 3,330 shares in the last quarter. 60.74% of the stock is owned by institutional investors and hedge funds.

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.