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

SoundThinking, Inc. (NASDAQ:SSTI) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.20.

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

SoundThinking Stock Up 0.3 %

Shares of SoundThinking stock opened at $11.76 on Wednesday. The company has a market cap of $148.06 million, a PE ratio of -97.99 and a beta of 1.17. SoundThinking has a 52 week low of $9.33 and a 52 week high of $26.92. The business has a 50 day moving average price of $11.67 and a 200-day moving average price of $13.14.

SoundThinking (NASDAQ:SSTI) last released 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 business had revenue of $26.25 million during the quarter, compared to the consensus estimate of $26.20 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. During the same period in the prior year, the company earned ($0.09) earnings per share. As a group, research analysts anticipate that SoundThinking will post -0.39 EPS for the current year.

Insider Activity

In other news, CEO Ralph A. Clark sold 6,479 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the transaction, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 13,332 shares of company stock valued at $185,826. 9.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SSTI. BNP Paribas Financial Markets grew its stake in shares of SoundThinking by 145.2% during the third quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after buying an additional 5,236 shares during the last quarter. Rhumbline Advisers grew its stake in shares of SoundThinking by 5.4% during the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after buying an additional 716 shares during the last quarter. Ibex Investors LLC bought a new position in shares of SoundThinking during the second quarter valued at about $171,000. Cim LLC grew its stake in shares of SoundThinking by 18.5% in the second quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after purchasing an additional 3,094 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of SoundThinking by 245.5% in the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after purchasing an additional 17,591 shares during the last quarter. 60.74% of the stock is 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.