SoundThinking, Inc. (NASDAQ:SSTI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

SoundThinking, Inc. (NASDAQ:SSTI) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.50.

Several equities research analysts have issued reports on SSTI shares. Craig Hallum cut their price target on SoundThinking from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Roth Mkm restated a “buy” rating and issued a $30.00 price target on shares of SoundThinking in a research report on Wednesday, May 15th. Cantor Fitzgerald decreased their price target on SoundThinking from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Lake Street Capital initiated coverage on SoundThinking in a research report on Friday, May 24th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, William Blair cut SoundThinking from an “outperform” rating to a “market perform” rating in a research report on Friday, May 17th.

Institutional Investors Weigh In On SoundThinking

Hedge funds and other institutional investors have recently modified their holdings of the company. Spouting Rock Asset Management LLC lifted its position in shares of SoundThinking by 15.9% during the 3rd quarter. Spouting Rock Asset Management LLC now owns 11,633 shares of the company’s stock valued at $208,000 after buying an additional 1,600 shares during the last quarter. Premier Fund Managers Ltd bought a new position in SoundThinking during the 4th quarter worth approximately $252,000. Cim LLC bought a new position in SoundThinking during the 4th quarter worth approximately $415,000. Worth Venture Partners LLC bought a new position in SoundThinking during the 3rd quarter worth approximately $419,000. Finally, Bank of New York Mellon Corp grew its position in SoundThinking by 5.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,523 shares of the company’s stock worth $654,000 after acquiring an additional 1,996 shares during the last quarter. Institutional investors own 60.74% of the company’s stock.

SoundThinking Stock Performance

NASDAQ SSTI opened at $13.86 on Tuesday. The business has a 50 day simple moving average of $14.45 and a 200 day simple moving average of $18.27. SoundThinking has a 52-week low of $12.98 and a 52-week high of $26.92. The stock has a market cap of $177.27 million, a price-to-earnings ratio of -43.31 and a beta of 1.21.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The business had revenue of $25.41 million for the quarter, compared to the consensus estimate of $25.48 million. SoundThinking had a negative return on equity of 12.69% and a negative net margin of 3.94%. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts predict that SoundThinking will post -0.35 EPS for the current year.

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.