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

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.83.

SSTI has been the subject of a number of research analyst reports. Weiss Ratings upgraded 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 research note on Friday, August 14th. Wall Street Zen lowered SoundThinking from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Lake Street Capital cut SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Friday, August 14th. Finally, Cantor Fitzgerald decreased their target price on SoundThinking from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 14th.

SoundThinking Trading Down 3.7%

Shares of SoundThinking stock opened at $5.47 on Friday. SoundThinking has a 12-month low of $5.41 and a 12-month high of $12.24. The firm has a market capitalization of $70.84 million, a price-to-earnings ratio of -4.24 and a beta of 1.16. The firm’s 50 day simple moving average is $6.83 and its two-hundred day simple moving average is $7.12.

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

Hedge Funds Weigh In On SoundThinking

A number of institutional investors have recently bought and sold shares of SSTI. Rice Hall James & Associates LLC acquired a new stake in shares of SoundThinking in the second quarter worth $4,225,000. Quantinno Capital Management LP boosted 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 valued at $1,566,000 after purchasing an additional 171,733 shares during the last quarter. BlackRock Inc. purchased a new stake in SoundThinking in the second quarter valued at $3,240,000. Kopion Asset Management LLC grew its position in SoundThinking by 14.6% during the 2nd quarter. Kopion Asset Management LLC now owns 1,114,648 shares of the company’s stock worth $10,088,000 after purchasing an additional 142,346 shares during the period. Finally, Ieq Capital LLC acquired a new stake in SoundThinking during the 2nd quarter worth about $193,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

SoundThinking Company Profile

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.