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

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.00.

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald cut shares of SoundThinking from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $10.00 in a report on Wednesday, January 7th. Citizens Jmp lowered their target price on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Craig Hallum cut SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a research report on Thursday, November 13th. Finally, Lake Street Capital dropped their target price on SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th.

SoundThinking Trading Up 2.6%

Shares of NASDAQ SSTI opened at $7.58 on Friday. SoundThinking has a 12-month low of $5.78 and a 12-month high of $19.43. The stock’s fifty day simple moving average is $7.75 and its two-hundred day simple moving average is $9.57. The stock has a market capitalization of $96.27 million, a PE ratio of -9.02 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). SoundThinking had a negative return on equity of 14.57% and a negative net margin of 10.44%.The company had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $27.97 million. On average, equities analysts predict that SoundThinking will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoundThinking

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in SoundThinking by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock valued at $84,000 after purchasing an additional 4,580 shares in the last quarter. Williams & Novak LLC purchased a new stake in shares of SoundThinking during the fourth quarter valued at $115,000. Kopion Asset Management LLC increased its position in shares of SoundThinking by 52.1% in the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after acquiring an additional 333,170 shares during the period. JPMorgan Chase & Co. raised its stake in SoundThinking by 7.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 47,346 shares of the company’s stock worth $571,000 after acquiring an additional 3,330 shares during the last quarter. Finally, Connective Capital Management LLC acquired a new stake in SoundThinking during the 3rd quarter worth about $297,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

SoundThinking Company Profile

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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.