Brokerages Set SoundThinking, Inc. (NASDAQ:SSTI) Target Price at $10.83

SoundThinking, Inc. (NASDAQ:SSTI) has been given a consensus rating of “Hold” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.8333.

Several equities research analysts have weighed in on the stock. Citizens Jmp restated a “market perform” rating on shares of SoundThinking in a research report on Friday, August 14th. Lake Street Capital cut shares of SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a research note on Friday, August 14th. Wall Street Zen lowered shares of SoundThinking from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Northland Securities set a $10.00 price objective on shares of SoundThinking in a research report on Friday, August 14th. Finally, Weiss Ratings raised SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 17th.

Institutional Trading of SoundThinking

A number of institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in SoundThinking during the 2nd quarter worth approximately $33,000. BNP Paribas Financial Markets boosted its holdings in shares of SoundThinking by 160.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after buying an additional 1,688 shares during the last quarter. Royal Bank of Canada grew its stake in shares of SoundThinking by 88.6% in the first quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after buying an additional 1,960 shares in the last quarter. Strs Ohio acquired a new position in SoundThinking during the first quarter worth $127,000. Finally, Versant Capital Management Inc increased its holdings in SoundThinking by 31.7% during the second quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock worth $84,000 after buying an additional 2,239 shares during the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

SoundThinking Stock Performance

Shares of SoundThinking stock opened at $6.20 on Wednesday. The company’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $7.31. The company has a market cap of $80.29 million, a price-to-earnings ratio of -4.81 and a beta of 1.16. SoundThinking has a 1 year low of $5.52 and a 1 year high of $13.28.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.12). SoundThinking had a negative net margin of 16.92% and a negative return on equity of 23.77%. The company had revenue of $23.89 million during the quarter, compared to the consensus estimate of $25.77 million. As a group, research analysts forecast that SoundThinking will post -1.06 earnings per share 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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.