Cantor Fitzgerald Reiterates Overweight Rating for SoundThinking (NASDAQ:SSTI)

SoundThinking (NASDAQ:SSTI)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They presently have a $20.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 23.00% from the company’s previous close.

Other research analysts have also issued reports about the stock. Craig Hallum raised shares of SoundThinking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. JMP Securities dropped their price objective on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, SoundThinking has an average rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Stock Performance

SSTI stock opened at $16.26 on Wednesday. The firm has a fifty day moving average price of $13.47 and a 200 day moving average price of $12.86. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $18.39. The firm has a market cap of $204.70 million, a PE ratio of -135.49 and a beta of 1.18.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, February 25th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). The business had revenue of $23.41 million during the quarter, compared to analysts’ expectations of $26.65 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. On average, equities analysts predict that SoundThinking will post -0.42 EPS for the current year.

Insider Transactions at SoundThinking

In other news, CFO Alan R. Stewart sold 15,000 shares of SoundThinking stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.95, for a total transaction of $209,250.00. Following the completion of the sale, the chief financial officer now directly owns 138,851 shares in the company, valued at approximately $1,936,971.45. This trade represents a 9.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Clark sold 5,933 shares of SoundThinking stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.61, for a total value of $68,882.13. Following the sale, the chief executive officer now owns 520,774 shares of the company’s stock, valued at approximately $6,046,186.14. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,350 shares of company stock worth $308,032. 9.20% of the stock is currently owned by insiders.

Institutional Trading of SoundThinking

Several institutional investors and hedge funds have recently made changes to their positions in SSTI. Kopion Asset Management LLC raised its holdings in shares of SoundThinking by 24.2% in the fourth quarter. Kopion Asset Management LLC now owns 727,144 shares of the company’s stock valued at $9,497,000 after acquiring an additional 141,630 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of SoundThinking by 56.6% in the third quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company’s stock valued at $4,197,000 after acquiring an additional 130,913 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SoundThinking by 93.5% in the third quarter. JPMorgan Chase & Co. now owns 56,072 shares of the company’s stock valued at $650,000 after acquiring an additional 27,091 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of SoundThinking by 61.9% in the third quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock valued at $602,000 after acquiring an additional 19,861 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of SoundThinking by 245.5% in the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock valued at $286,000 after acquiring an additional 17,591 shares in the last quarter. 60.74% of the stock is currently 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.