JMP Securities Lowers SoundThinking (NASDAQ:SSTI) Price Target to $19.00

SoundThinking (NASDAQ:SSTI) had its target price reduced by JMP Securities from $25.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other brokerages have also recently weighed in on SSTI. Craig Hallum decreased their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of SoundThinking in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SoundThinking has a consensus rating of “Moderate Buy” and a consensus target price of $21.20.

SoundThinking Stock Performance

SSTI stock opened at $11.43 on Wednesday. The company’s 50 day moving average price is $11.70 and its 200 day moving average price is $13.17. The firm has a market capitalization of $146.08 million, a price-to-earnings ratio of -95.24 and a beta of 1.17. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92.

SoundThinking (NASDAQ:SSTI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.69% and a negative net margin of 1.39%. The business had revenue of $26.25 million for the quarter, compared to analyst estimates of $26.20 million. During the same period last year, the business posted ($0.09) EPS. Equities analysts forecast that SoundThinking will post -0.38 EPS for the current fiscal year.

Insider Transactions at SoundThinking

In related news, CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the sale, the chief executive officer now owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 14,327 shares of company stock worth $199,955 over the last quarter. 9.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoundThinking

Several hedge funds have recently modified their holdings of the stock. Rice Hall James & Associates LLC boosted its stake in shares of SoundThinking by 70.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock valued at $2,816,000 after buying an additional 95,492 shares during the last quarter. Quadrature Capital Ltd acquired a new position in SoundThinking during the 1st quarter valued at approximately $923,000. Federated Hermes Inc. grew its stake 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 buying an additional 190,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of SoundThinking by 6.9% during the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after acquiring an additional 32,452 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in SoundThinking in the 2nd quarter valued at about $298,000. 60.74% of the stock is currently owned by hedge funds and other 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.