SoundThinking (NASDAQ:SSTI) Given New $16.00 Price Target at Cantor Fitzgerald

SoundThinking (NASDAQ:SSTI) had its target price trimmed by Cantor Fitzgerald from $20.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

SSTI has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SoundThinking in a report on Wednesday, October 8th. Craig Hallum lowered shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research report on Thursday. Wall Street Zen cut shares of SoundThinking from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Lake Street Capital lowered their price objective on SoundThinking from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

SoundThinking Trading Down 3.2%

SSTI traded down $0.23 on Thursday, hitting $7.01. 283,931 shares of the company’s stock traded hands, compared to its average volume of 68,299. SoundThinking has a one year low of $6.29 and a one year high of $19.43. The company’s 50 day simple moving average is $10.92 and its 200-day simple moving average is $12.87. The firm has a market cap of $89.66 million, a price-to-earnings ratio of -8.87 and a beta of 1.17.

SoundThinking (NASDAQ:SSTI) last announced 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). The business had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $27.97 million. SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. SoundThinking has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SoundThinking will post -0.42 EPS for the current fiscal year.

Insider Activity at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 16,161 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total value of $190,699.80. Following the sale, the chief executive officer owned 588,638 shares of the company’s stock, valued at $6,945,928.40. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 18,925 shares of company stock worth $223,967. 10.40% of the stock is owned by insiders.

Institutional Trading of SoundThinking

Several institutional investors and hedge funds have recently made changes to their positions in SSTI. Mackenzie Financial Corp lifted its position in shares of SoundThinking by 120.1% during the first quarter. Mackenzie Financial Corp now owns 94,362 shares of the company’s stock worth $1,599,000 after purchasing an additional 51,498 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SoundThinking by 16.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,090 shares of the company’s stock valued at $493,000 after purchasing an additional 4,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SoundThinking by 3.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,931 shares of the company’s stock worth $1,236,000 after acquiring an additional 2,198 shares in the last quarter. Nuveen LLC acquired a new position in SoundThinking in the 1st quarter worth approximately $413,000. Finally, Informed Momentum Co LLC purchased a new stake in shares of SoundThinking in the first quarter worth approximately $732,000. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

About SoundThinking

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.