ShotSpotter Inc. (SSTI) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of ShotSpotter Inc. (NASDAQ:SSTI) from a hold rating to a buy rating in a report released on Saturday morning. The brokerage currently has $13.00 price objective on the stock.
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. “
Other analysts have also issued reports about the company. Imperial Capital assumed coverage on ShotSpotter in a research note on Thursday, July 27th. They issued an outperform rating and a $16.00 target price for the company. Roth Capital assumed coverage on ShotSpotter in a research note on Monday, July 10th. They issued a buy rating and a $18.00 target price for the company. Finally, Northland Securities assumed coverage on ShotSpotter in a research note on Monday, July 3rd. They issued an outperform rating and a $16.00 target price for the company.
Shares of ShotSpotter (SSTI) opened at 11.70 on Friday. The company has a 50-day moving average of $11.40 and a 200 day moving average of $12.53. The firm’s market cap is $112.37 million. ShotSpotter has a 12-month low of $9.33 and a 12-month high of $15.36.
ShotSpotter (NASDAQ:SSTI) last announced its earnings results on Tuesday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.03). The firm had revenue of $5.84 million during the quarter, compared to the consensus estimate of $5.07 million. During the same period in the previous year, the business posted ($1.44) EPS. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. Equities analysts predict that ShotSpotter will post ($0.60) EPS for the current year.
A number of hedge funds have recently made changes to their positions in SSTI. Russell Investments Group Ltd. acquired a new stake in ShotSpotter in the second quarter worth about $2,577,000. Trellus Management Company LLC acquired a new stake in ShotSpotter in the second quarter worth about $1,112,000. Spark Investment Management LLC acquired a new stake in ShotSpotter in the second quarter worth about $231,000. K.J. Harrison & Partners Inc acquired a new stake in ShotSpotter in the second quarter worth about $128,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in ShotSpotter in the second quarter worth about $9,539,000. Hedge funds and other institutional investors own 21.52% of the company’s stock.
ShotSpotter Company Profile
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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