SoundThinking FY2024 EPS Forecast Lowered by William Blair

SoundThinking, Inc. (NASDAQ:SSTI) – William Blair cut their FY2024 EPS estimates for SoundThinking in a research report issued on Wednesday, November 13th. William Blair analyst L. Dipalma now anticipates that the company will post earnings of ($0.41) per share for the year, down from their prior estimate of ($0.36). The consensus estimate for SoundThinking’s current full-year earnings is ($0.39) per share.

SoundThinking (NASDAQ:SSTI) last announced 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 the consensus estimate of $26.20 million. During the same quarter last year, the company earned ($0.09) earnings per share.

Other analysts also recently issued research reports about the company. Craig Hallum dropped their price target on SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. JMP Securities lowered their price target on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald raised shares of SoundThinking to a “strong-buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SoundThinking has an average rating of “Moderate Buy” and a consensus price target of $21.20.

SoundThinking Stock Performance

Shares of SSTI opened at $11.76 on Monday. The firm has a market cap of $148.06 million, a P/E ratio of -97.99 and a beta of 1.17. SoundThinking has a twelve month low of $9.33 and a twelve month high of $26.92. The firm’s 50 day moving average price is $11.67 and its two-hundred day moving average price is $13.14.

Insider Transactions at SoundThinking

In other news, CEO Ralph A. Clark sold 5,591 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total value of $80,286.76. Following the completion of the sale, the chief executive officer now owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 13,332 shares of company stock worth $185,826 over the last quarter. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in SoundThinking by 5.4% in the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after acquiring an additional 716 shares during the last quarter. Cim LLC raised its holdings in SoundThinking by 18.5% in the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after buying an additional 3,094 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in SoundThinking by 9.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock valued at $482,000 after buying an additional 3,268 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of 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 purchasing an additional 5,236 shares during the period. Finally, State Street Corp lifted its holdings in SoundThinking by 4.3% during the 3rd quarter. State Street Corp now owns 197,024 shares of the company’s stock worth $2,284,000 after buying an additional 8,078 shares during the period. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.