Brokerages Set SoundThinking, Inc. (NASDAQ:SSTI) Target Price at $21.20

SoundThinking, Inc. (NASDAQ:SSTI) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $21.20.

Several research firms have recently issued reports on SSTI. JMP Securities decreased their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 13th. Craig Hallum decreased their target price on SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded SoundThinking to a “strong-buy” rating in a report on Thursday, November 14th.

Hedge Funds Weigh In On SoundThinking

Several institutional investors and hedge funds have recently modified their holdings of SSTI. Disciplined Growth Investors Inc. MN acquired a new position in shares of SoundThinking in the 3rd quarter valued at approximately $5,354,000. Federated Hermes Inc. boosted its position in SoundThinking by 14.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock worth $18,331,000 after acquiring an additional 190,000 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in SoundThinking by 56.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company’s stock worth $4,197,000 after acquiring an additional 130,913 shares during the last quarter. Pullen Investment Management LLC acquired a new position in SoundThinking during the 2nd quarter worth approximately $632,000. Finally, Hsbc Holdings PLC acquired a new position in SoundThinking during the 2nd quarter worth approximately $398,000. 60.74% of the stock is currently owned by institutional investors and hedge funds.

SoundThinking Stock Up 1.6 %

Shares of SSTI stock opened at $14.13 on Friday. The stock has a 50-day moving average price of $11.86 and a 200 day moving average price of $12.98. The firm has a market cap of $177.90 million, a price-to-earnings ratio of -117.74 and a beta of 1.19. SoundThinking has a 12 month low of $9.33 and a 12 month high of $26.92.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $26.25 million for the quarter, compared to analyst estimates of $26.20 million. SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Sell-side analysts predict that SoundThinking will post -0.39 earnings per share for the current fiscal 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.