SoundThinking, Inc. (NASDAQ:SSTI) Stock Rated “Reduce” by Sell-Side Analysts

SoundThinking, Inc. (NASDAQ:SSTI) has been given an average rating of “Reduce” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.79.

Several brokerages recently weighed in on SSTI. Cantor Fitzgerald reduced their target price on shares of SoundThinking from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Craig Hallum boosted their price target on shares of SoundThinking from $6.00 to $8.50 and gave the stock a “hold” rating in a report on Friday, October 2nd. Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of SoundThinking from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Lake Street Capital lowered shares of SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a report on Friday, August 14th.

SoundThinking Price Performance

SSTI stock opened at $8.28 on Thursday. The firm has a market capitalization of $107.23 million, a P/E ratio of -6.42 and a beta of 1.11. The business’s 50-day moving average is $6.77 and its two-hundred day moving average is $7.28. SoundThinking has a 1 year low of $5.41 and a 1 year high of $11.61.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%. The company had revenue of $23.89 million for the quarter, compared to analyst estimates of $25.77 million. On average, analysts expect that SoundThinking will post -1.06 EPS for the current year.

Hedge Funds Weigh In On SoundThinking

A number of institutional investors and hedge funds have recently modified their holdings of SSTI. Kopion Asset Management LLC raised its stake in SoundThinking by 14.9% in the third quarter. Kopion Asset Management LLC now owns 1,280,901 shares of the company’s stock valued at $10,644,000 after buying an additional 166,253 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in SoundThinking in the second quarter valued at $4,225,000. BlackRock Inc. purchased a new stake in SoundThinking during the 2nd quarter worth about $3,240,000. Quantinno Capital Management LP lifted its holdings in SoundThinking by 264.8% during the 1st quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock worth $1,566,000 after buying an additional 171,733 shares during the last quarter. Finally, Pullen Investment Management LLC lifted its holdings in SoundThinking by 14.1% during the 1st quarter. Pullen Investment Management LLC now owns 187,130 shares of the company’s stock worth $1,239,000 after buying an additional 23,161 shares during the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

About SoundThinking

SoundThinking, Inc is a public safety technology company that provides data-driven tools to help law enforcement agencies detect, analyze and respond to crime. Its platform combines acoustic sensors, artificial intelligence, investigative software and analytics to support public safety operations.

The company’s offerings include ShotSpotter, a gunshot detection and location service that uses acoustic sensors and human review to alert agencies to suspected gunfire; CrimeTracer, a search and analysis platform that helps investigators connect information from multiple data sources; and other tools designed to assist with case management, resource allocation and crime analysis.

SoundThinking was founded in 1996 and was previously known as ShotSpotter, Inc The company adopted the SoundThinking name in 2023 as it expanded beyond gunshot detection into a broader public safety technology platform.