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

SoundThinking, Inc. (NASDAQ:SSTI) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.8333.

SSTI has been the subject of a number of recent research reports. Roth Capital set a $13.00 target price on SoundThinking in a research note on Friday, August 14th. Lake Street Capital downgraded shares of SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Friday, August 14th. Northland Securities set a $10.00 price target on shares of SoundThinking in a report on Friday, August 14th. Weiss Ratings upgraded SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 17th. Finally, Citizens Jmp reissued a “market perform” rating on shares of SoundThinking in a research note on Friday, August 14th.

SoundThinking Stock Up 2.2%

SSTI opened at $6.15 on Wednesday. SoundThinking has a fifty-two week low of $5.52 and a fifty-two week high of $13.34. The business has a fifty day simple moving average of $7.97 and a 200-day simple moving average of $7.33. The firm has a market cap of $79.64 million, a PE ratio of -4.77 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last released its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). The company had revenue of $23.89 million during the quarter, compared to analysts’ expectations of $25.77 million. SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%. On average, equities research analysts anticipate that SoundThinking will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On SoundThinking

Several hedge funds have recently added to or reduced their stakes in SSTI. Royal Bank of Canada grew its position in shares of SoundThinking by 88.6% in the first quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after purchasing an additional 1,960 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of SoundThinking by 160.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after purchasing an additional 1,688 shares during the period. State of Wyoming bought a new stake in SoundThinking during the 2nd quarter worth approximately $33,000. Versant Capital Management Inc boosted its holdings in SoundThinking by 31.7% in the 2nd quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock valued at $84,000 after purchasing an additional 2,239 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of SoundThinking by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock worth $84,000 after purchasing an additional 4,580 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. 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.