SoundThinking, Inc. (NASDAQ:SSTI) Receives $10.83 Average Target Price from Analysts

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $10.8333.

Several equities analysts recently issued reports on SSTI shares. Cantor Fitzgerald decreased their price target on SoundThinking from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Wall Street Zen cut SoundThinking from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Citizens Jmp restated a “market perform” rating on shares of SoundThinking in a research report on Friday, August 14th. Lake Street Capital lowered shares of SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a report on Friday, August 14th. Finally, Roth Capital set a $13.00 target price on SoundThinking in a report on Friday, August 14th.

SoundThinking Stock Down 7.3%

Shares of NASDAQ:SSTI opened at $5.97 on Wednesday. SoundThinking has a 12 month low of $5.52 and a 12 month high of $13.28. The company’s 50-day moving average price is $7.82 and its two-hundred day moving average price is $7.30. The firm has a market cap of $77.34 million, a P/E ratio of -4.63 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). The company had revenue of $23.89 million during the quarter, compared to analyst estimates of $25.77 million. SoundThinking had a negative net margin of 16.92% and a negative return on equity of 23.77%. As a group, equities analysts predict that SoundThinking will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in SoundThinking by 88.6% in the first quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after buying an additional 1,960 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of SoundThinking by 160.5% in the 3rd 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 during the period. State of Wyoming bought a new stake in shares of SoundThinking in the second quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in shares of SoundThinking by 31.7% in the second quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock valued at $84,000 after purchasing an additional 2,239 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of SoundThinking by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock valued at $84,000 after purchasing an additional 4,580 shares in the last quarter. Institutional investors own 60.74% of the company’s stock.

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.