SoundThinking, Inc. (NASDAQ:SSTI) Stock Has Consensus Target Price of $9.79

SoundThinking, Inc. (NASDAQ:SSTI) has been given a consensus recommendation of “Reduce” by the nine analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.79.

SSTI has been the subject of a number of research reports. Jefferies Financial Group set a $9.00 target price on SoundThinking in a report on Wednesday, September 30th. Citigroup restated a “market perform” rating on shares of SoundThinking in a report on Wednesday, September 30th. Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Lake Street Capital lowered 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, Roth Capital cut shares of SoundThinking from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Wednesday, September 30th.

SoundThinking Stock Performance

Shares of SSTI opened at $8.40 on Thursday. SoundThinking has a 12-month low of $5.41 and a 12-month high of $11.61. The stock has a market cap of $108.78 million, a P/E ratio of -6.51 and a beta of 1.11. The company has a 50-day moving average of $6.78 and a two-hundred day moving average of $7.30.

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

Institutional Trading of SoundThinking

A number of institutional investors have recently made changes to their positions in the stock. Kopion Asset Management LLC raised its position in SoundThinking by 14.9% during the third quarter. Kopion Asset Management LLC now owns 1,280,901 shares of the company’s stock valued at $10,644,000 after buying an additional 166,253 shares during the period. Rice Hall James & Associates LLC acquired a new position in SoundThinking during the second quarter worth $4,225,000. BlackRock Inc. bought a new position in shares of SoundThinking in the second quarter valued at about $3,240,000. 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 acquiring an additional 171,733 shares during the last quarter. Finally, Pullen Investment Management LLC lifted its stake in SoundThinking by 14.1% in the first quarter. Pullen Investment Management LLC now owns 187,130 shares of the company’s stock valued at $1,239,000 after buying an additional 23,161 shares during the period. 60.74% of the stock is owned by institutional investors and hedge funds.

About SoundThinking

SoundThinking, Inc is a public safety technology company that provides data-driven tools to help law enforcement agencies detect, analyze and respond to crime. Its platform combines acoustic sensors, artificial intelligence, investigative software and analytics to support public safety operations.

The company’s offerings include ShotSpotter, a gunshot detection and location service that uses acoustic sensors and human review to alert agencies to suspected gunfire; CrimeTracer, a search and analysis platform that helps investigators connect information from multiple data sources; and other tools designed to assist with case management, resource allocation and crime analysis.

SoundThinking was founded in 1996 and was previously known as ShotSpotter, Inc The company adopted the SoundThinking name in 2023 as it expanded beyond gunshot detection into a broader public safety technology platform.