SoundThinking, Inc. (NASDAQ:SSTI) Receives $21.20 Consensus Price Target from Analysts

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $21.20.

Several brokerages have recently commented on SSTI. JMP Securities decreased their price target on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 13th. Craig Hallum decreased their target price on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded shares of SoundThinking to a “strong-buy” rating in a report on Thursday.

SoundThinking Price Performance

Shares of SSTI opened at $11.43 on Wednesday. The firm’s 50 day moving average is $11.70 and its 200-day moving average is $13.16. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92. The stock has a market capitalization of $143.89 million, a P/E ratio of -95.25 and a beta of 1.17.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. The business had revenue of $26.25 million during the quarter, compared to analyst estimates of $26.20 million. During the same quarter last year, the firm posted ($0.09) EPS. As a group, equities research analysts forecast that SoundThinking will post -0.39 EPS for the current fiscal year.

Insider Activity

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total value of $88,373.56. Following the transaction, the chief executive officer now owns 529,894 shares in the company, valued at $7,227,754.16. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 13,332 shares of company stock worth $185,826 in the last 90 days. Company insiders own 9.20% of the company’s stock.

Institutional Trading of SoundThinking

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in SoundThinking by 145.2% during the third quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock worth $102,000 after acquiring an additional 5,236 shares during the period. Rhumbline Advisers grew its position in SoundThinking by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after acquiring an additional 716 shares during the last quarter. Ibex Investors LLC acquired a new position in SoundThinking in the second quarter worth $171,000. Cim LLC grew its holdings in shares of SoundThinking by 18.5% during the second quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after purchasing an additional 3,094 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of SoundThinking by 245.5% during the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after purchasing an additional 17,591 shares in the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.