Cantor Fitzgerald Upgrades SoundThinking (NASDAQ:SSTI) to Strong-Buy

Cantor Fitzgerald upgraded shares of SoundThinking (NASDAQ:SSTI) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. JMP Securities decreased their target price 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 lowered their price objective on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.20.

SoundThinking Stock Performance

SoundThinking stock opened at $11.43 on Thursday. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92. The firm’s 50-day simple moving average is $11.70 and its 200 day simple moving average is $13.16. The stock has a market cap of $143.89 million, a PE ratio of -95.25 and a beta of 1.17.

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

Insider Activity at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total transaction of $80,286.76. Following the sale, the chief executive officer now owns 536,373 shares in the company, valued at $7,702,316.28. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 13,332 shares of company stock worth $185,826. Company insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Several hedge funds have recently made changes to their positions in SSTI. Rice Hall James & Associates LLC boosted its stake in SoundThinking by 70.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock worth $2,816,000 after purchasing an additional 95,492 shares during the period. Quadrature Capital Ltd bought a new position in shares of SoundThinking in the first quarter valued at approximately $923,000. Federated Hermes Inc. grew its stake in SoundThinking by 14.4% during the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock valued at $18,331,000 after acquiring an additional 190,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in SoundThinking by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after acquiring an additional 32,452 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in SoundThinking in the 2nd quarter worth approximately $298,000. 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.