ShotSpotter Inc. (SSTI) Raised to “Buy” at Zacks Investment Research
ShotSpotter Inc. (NASDAQ:SSTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $12.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.21% from the company’s current price.
According to Zacks, “ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company’s product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. “
A number of other equities research analysts have also weighed in on SSTI. Imperial Capital began coverage on shares of ShotSpotter in a research note on Thursday, July 27th. They set an “outperform” rating and a $16.00 target price for the company. Roth Capital began coverage on shares of ShotSpotter in a research note on Monday, July 10th. They set a “buy” rating and a $18.00 target price for the company. Finally, Northland Securities began coverage on shares of ShotSpotter in a research note on Monday, July 3rd. They set an “outperform” rating and a $16.00 target price for the company.
Shares of ShotSpotter (SSTI) opened at 10.60 on Friday. The firm has a 50-day moving average price of $11.63 and a 200-day moving average price of $12.68. The stock’s market capitalization is $101.80 million. ShotSpotter has a 52-week low of $9.33 and a 52-week high of $15.36.
ShotSpotter (NASDAQ:SSTI) last announced its earnings results on Tuesday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $5.84 million for the quarter, compared to analyst estimates of $5.07 million. The company’s revenue was up 48.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.44) EPS. On average, analysts predict that ShotSpotter will post ($0.60) EPS for the current year.
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In related news, CFO Alan R. Stewart acquired 9,090 shares of ShotSpotter stock in a transaction dated Monday, June 12th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $99,990.00. Following the purchase, the chief financial officer now directly owns 9,090 shares of the company’s stock, valued at approximately $99,990. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Lauder acquired 91,000 shares of ShotSpotter stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $11.00 per share, with a total value of $1,001,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 113,726 shares of company stock valued at $1,250,986 over the last 90 days.
Several large investors have recently bought and sold shares of SSTI. K.J. Harrison & Partners Inc purchased a new stake in shares of ShotSpotter in the 2nd quarter worth $128,000. Goldman Sachs Group Inc. purchased a new stake in shares of ShotSpotter in the 2nd quarter worth $181,000. Spark Investment Management LLC purchased a new stake in shares of ShotSpotter in the 2nd quarter worth $231,000. Timpani Capital Management LLC purchased a new stake in shares of ShotSpotter in the 2nd quarter worth $885,000. Finally, Trellus Management Company LLC purchased a new stake in shares of ShotSpotter in the 2nd quarter worth $1,112,000. Hedge funds and other institutional investors own 21.52% of the company’s stock.
ShotSpotter Company Profile
ShotSpotter, Inc is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure.
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