ShotSpotter Inc. (NASDAQ:SSTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $12.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.21% from the stock’s previous close.

According to Zacks, “ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company’s product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. “

SSTI has been the topic of several other research reports. Imperial Capital initiated coverage on shares of ShotSpotter in a research note on Thursday, July 27th. They set an “outperform” rating and a $16.00 price objective on the stock. Roth Capital initiated coverage on shares of ShotSpotter in a research note on Monday, July 10th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Northland Securities initiated coverage on shares of ShotSpotter in a research note on Monday, July 3rd. They set an “outperform” rating and a $16.00 price objective on the stock.

Shares of ShotSpotter (NASDAQ:SSTI) opened at 10.60 on Friday. The stock has a 50 day moving average of $11.63 and a 200-day moving average of $12.68. The firm’s market capitalization is $101.80 million. ShotSpotter has a 52 week low of $9.33 and a 52 week high of $15.36.

ShotSpotter (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $5.84 million for the quarter, compared to analysts’ expectations of $5.07 million. During the same quarter in the prior year, the company posted ($1.44) earnings per share. The firm’s revenue was up 48.2% on a year-over-year basis. Analysts expect that ShotSpotter will post ($0.60) earnings per share for the current year.

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In related news, Director Gary M. Lauder bought 91,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $1,001,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ralph A. Clark bought 13,636 shares of the company’s stock in a transaction on Monday, June 12th. The shares were bought at an average price of $11.00 per share, for a total transaction of $149,996.00. Following the completion of the acquisition, the insider now directly owns 13,636 shares in the company, valued at approximately $149,996. The disclosure for this purchase can be found here. Insiders have acquired a total of 113,726 shares of company stock worth $1,250,986 over the last 90 days.

Hedge funds have recently made changes to their positions in the business. K.J. Harrison & Partners Inc acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $128,000. Goldman Sachs Group Inc. acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $181,000. Spark Investment Management LLC acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $231,000. Timpani Capital Management LLC acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $885,000. Finally, Trellus Management Company LLC acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $1,112,000. Hedge funds and other institutional investors own 21.52% of the company’s stock.

About ShotSpotter

ShotSpotter, Inc is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure.

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