SoundThinking (NASDAQ:SSTI) Receives “Buy” Rating from Roth Capital

SoundThinking (NASDAQ:SSTI)‘s stock had its “buy” rating reaffirmed by equities researchers at Roth Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $20.00 price objective on the stock, down from their prior price objective of $30.00. Roth Capital’s price objective suggests a potential upside of 183.85% from the company’s current price.

A number of other research analysts have also commented on the stock. Citizens Jmp lowered their price objective on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Thursday. Wall Street Zen lowered shares of SoundThinking from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Cantor Fitzgerald reduced their price target on shares of SoundThinking from $20.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday. Zacks Research upgraded SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Craig Hallum downgraded shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a report on Thursday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

SoundThinking Stock Performance

Shares of SSTI traded down $1.38 during midday trading on Thursday, hitting $7.05. 309,495 shares of the stock traded hands, compared to its average volume of 65,679. The business’s 50 day moving average price is $11.11 and its two-hundred day moving average price is $12.97. The firm has a market capitalization of $90.13 million, a PE ratio of -8.85 and a beta of 1.17. SoundThinking has a 1-year low of $6.29 and a 1-year high of $19.43.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $27.97 million. SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. SoundThinking has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that SoundThinking will post -0.42 EPS for the current fiscal year.

Insider Activity at SoundThinking

In related news, CEO Ralph A. Clark sold 16,161 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $11.80, for a total value of $190,699.80. Following the completion of the transaction, the chief executive officer directly owned 588,638 shares of the company’s stock, valued at $6,945,928.40. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 18,925 shares of company stock valued at $223,967 in the last three months. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

A number of hedge funds and other institutional investors have recently made changes to their positions in SSTI. Meeder Asset Management Inc. bought a new stake in SoundThinking in the third quarter valued at about $31,000. State of Wyoming acquired a new stake in SoundThinking during the second quarter valued at approximately $33,000. MetLife Investment Management LLC bought a new stake in shares of SoundThinking in the 1st quarter valued at approximately $98,000. Strs Ohio acquired a new position in shares of SoundThinking in the 1st quarter worth approximately $127,000. Finally, Corient Private Wealth LLC acquired a new position in shares of SoundThinking in the 2nd quarter worth approximately $132,000. 60.74% of the stock is owned by 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.