SoundThinking, Inc. (NASDAQ:SSTI) Receives Average Recommendation of “Hold” from Brokerages

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.00.

A number of brokerages have issued reports on SSTI. Citizens Jmp lowered their price target on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 13th. 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. Lake Street Capital cut their price target on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Roth Mkm restated a “buy” rating and set a $20.00 price objective (down from $30.00) on shares of SoundThinking in a research report on Thursday, November 13th. Finally, Zacks Research upgraded shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th.

SoundThinking Stock Performance

SSTI opened at $7.00 on Friday. The company has a fifty day moving average of $7.66 and a two-hundred day moving average of $9.75. The stock has a market capitalization of $88.90 million, a price-to-earnings ratio of -8.33 and a beta of 1.16. SoundThinking has a fifty-two week low of $5.78 and a fifty-two week high of $19.43.

SoundThinking (NASDAQ:SSTI) last posted 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). SoundThinking had a negative return on equity of 14.57% and a negative net margin of 10.44%.The firm had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $27.97 million. On average, equities research analysts forecast that SoundThinking will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On SoundThinking

A number of hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of SoundThinking in the third quarter valued at approximately $31,000. BNP Paribas Financial Markets raised its stake in 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 last quarter. State of Wyoming purchased a new position in SoundThinking in the 2nd quarter valued at $33,000. Williams & Novak LLC acquired a new stake in SoundThinking during the 4th quarter worth $115,000. Finally, Strs Ohio purchased a new stake in shares of SoundThinking during the first quarter worth $127,000. Institutional investors and hedge funds 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.