SoundThinking, Inc. (NASDAQ:SSTI) Stock Has Average Target Price of $10.83 According to Brokerages

SoundThinking, Inc. (NASDAQ:SSTI) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.83.

A number of brokerages have commented on SSTI. Weiss Ratings upgraded shares of SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Northland Securities set a $10.00 price target on SoundThinking in a report on Friday, August 14th. Lake Street Capital cut SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research note on Friday, August 14th. Cantor Fitzgerald reduced their price objective on SoundThinking from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Finally, Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th.

Hedge Funds Weigh In On SoundThinking

Institutional investors have recently made changes to their positions in the company. Kopion Asset Management LLC raised its holdings in shares of SoundThinking by 14.6% in the second quarter. Kopion Asset Management LLC now owns 1,114,648 shares of the company’s stock valued at $10,088,000 after acquiring an additional 142,346 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in SoundThinking in the second quarter valued at approximately $4,225,000. BlackRock Inc. purchased a new position in SoundThinking in the second quarter worth $3,240,000. Quantinno Capital Management LP grew its holdings in SoundThinking by 264.8% in the first quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock worth $1,566,000 after purchasing an additional 171,733 shares during the last quarter. Finally, Pullen Investment Management LLC increased its position in shares of SoundThinking by 14.1% during the first quarter. Pullen Investment Management LLC now owns 187,130 shares of the company’s stock worth $1,239,000 after purchasing an additional 23,161 shares in the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

SoundThinking Stock Performance

Shares of NASDAQ SSTI opened at $5.64 on Friday. The business’s 50 day moving average price is $6.78 and its 200-day moving average price is $7.11. SoundThinking has a fifty-two week low of $5.41 and a fifty-two week high of $12.24. The company has a market cap of $73.04 million, a price-to-earnings ratio of -4.37 and a beta of 1.16.

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

About SoundThinking

SoundThinking, Inc (NASDAQ:SSTI) is a public safety technology company that provides data-driven tools for law enforcement agencies and communities. The company’s platform is designed to help public safety organizations detect, analyze and respond to incidents, with a focus on improving situational awareness and investigative efficiency.

Its product portfolio includes ShotSpotter, a subscription-based acoustic gunshot detection service that uses sensors and software to identify and locate possible gunfire; CrimeTracer, a law enforcement search and investigative analytics platform; and ResourceRouter, which supports data-informed decisions about the deployment of public safety resources.