SoundThinking, Inc. (NASDAQ:SSTI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been given an average rating of “Moderate Buy” by the six research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.50.

SSTI has been the subject of several recent research reports. William Blair cut SoundThinking from an “outperform” rating to a “market perform” rating in a report on Friday, May 17th. Lake Street Capital assumed coverage on SoundThinking in a research note on Friday, May 24th. They set a “buy” rating and a $21.00 price objective for the company. Cantor Fitzgerald cut their target price on SoundThinking from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Roth Mkm reissued a “buy” rating and set a $30.00 price objective on shares of SoundThinking in a research note on Wednesday, May 15th. Finally, Craig Hallum decreased their price objective on SoundThinking from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th.

Institutional Investors Weigh In On SoundThinking

Several large investors have recently added to or reduced their stakes in SSTI. Rhumbline Advisers boosted its position in shares of SoundThinking by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after purchasing an additional 716 shares in the last quarter. Premier Fund Managers Ltd bought a new position in SoundThinking in the fourth quarter worth approximately $252,000. Cim LLC acquired a new stake in SoundThinking in the fourth quarter valued at approximately $415,000. Bank of New York Mellon Corp increased its holdings in shares of SoundThinking by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock valued at $482,000 after acquiring an additional 3,268 shares in the last quarter. Finally, Pullen Investment Management LLC acquired a new position in shares of SoundThinking during the second quarter worth approximately $632,000. Institutional investors and hedge funds own 60.74% of the company’s stock.

SoundThinking Stock Up 0.1 %

NASDAQ:SSTI opened at $14.51 on Wednesday. The firm has a market cap of $185.58 million, a price-to-earnings ratio of -45.34 and a beta of 1.21. SoundThinking has a 12 month low of $11.00 and a 12 month high of $26.92. The company’s 50 day moving average is $13.64 and its 200-day moving average is $15.48.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The firm had revenue of $25.41 million during 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 quarter in the prior year, the business posted ($0.15) EPS. Research analysts predict that SoundThinking will post -0.35 EPS for the current fiscal year.

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.