SoundThinking, Inc. (NASDAQ:SSTI) Receives $14.00 Consensus Target Price from Analysts

SoundThinking, Inc. (NASDAQ:SSTI) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.00.

Several analysts recently issued reports on SSTI shares. Wall Street Zen raised SoundThinking from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 31st. Zacks Research downgraded SoundThinking from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings lowered SoundThinking from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th.

SoundThinking Stock Down 1.6%

Shares of NASDAQ SSTI traded down $0.14 during trading on Tuesday, reaching $8.65. The company had a trading volume of 83,305 shares, compared to its average volume of 174,606. The stock has a market cap of $112.02 million, a PE ratio of -7.46 and a beta of 1.14. SoundThinking has a 12-month low of $5.78 and a 12-month high of $13.71. The business’s 50-day moving average is $7.63 and its 200 day moving average is $7.38.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). The company had revenue of $24.18 million for the quarter, compared to analysts’ expectations of $24.27 million. SoundThinking had a negative net margin of 14.95% and a negative return on equity of 20.76%. On average, analysts anticipate that SoundThinking will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SSTI. Royal Bank of Canada increased its position in shares of SoundThinking by 88.6% in the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after acquiring an additional 1,960 shares during the period. BNP Paribas Financial Markets boosted its position in SoundThinking by 160.5% during the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after purchasing an additional 1,688 shares in the last quarter. State of Wyoming acquired a new position in shares of SoundThinking during the 2nd quarter worth about $33,000. Versant Capital Management Inc lifted 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 in the last quarter. Finally, Wells Fargo & Company MN grew its stake in SoundThinking by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock valued at $84,000 after acquiring an additional 4,580 shares in the last quarter. Hedge funds and other institutional investors 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.