Cantor Fitzgerald Issues Pessimistic Forecast for SoundThinking (NASDAQ:SSTI) Stock Price

SoundThinking (NASDAQ:SSTI) had its price target lowered by stock analysts at Cantor Fitzgerald from $20.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 127.08% from the company’s current price.

Several other equities research analysts also recently weighed in on SSTI. Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Lake Street Capital dropped their target price on SoundThinking from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Wall Street Zen downgraded SoundThinking from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SoundThinking in a research note on Wednesday, October 8th. Finally, Craig Hallum lowered shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Thursday. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.50.

SoundThinking Price Performance

NASDAQ:SSTI traded down $1.38 during midday trading on Thursday, hitting $7.05. The company’s stock had a trading volume of 309,495 shares, compared to its average volume of 65,679. SoundThinking has a fifty-two week low of $6.29 and a fifty-two week high of $19.43. The firm has a market cap of $90.13 million, a P/E ratio of -8.85 and a beta of 1.17. The firm’s 50 day moving average is $11.11 and its 200-day moving average is $12.97.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $27.97 million. SoundThinking has set its FY 2025 guidance at EPS. As a group, analysts forecast that SoundThinking will post -0.42 EPS for the current year.

Insider Activity

In related news, CEO Ralph A. Clark sold 16,161 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total value of $190,699.80. Following the completion of the sale, the chief executive officer owned 588,638 shares of the company’s stock, valued at approximately $6,945,928.40. The trade was a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 18,925 shares of company stock worth $223,967. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC purchased a new position in SoundThinking in the 1st quarter valued at about $98,000. Kopion Asset Management LLC lifted its position in shares of SoundThinking by 8.3% in the second quarter. Kopion Asset Management LLC now owns 586,652 shares of the company’s stock valued at $7,659,000 after acquiring an additional 44,976 shares in the last quarter. Samjo Management LLC purchased a new position in shares of SoundThinking in the first quarter valued at approximately $1,085,000. Nuveen LLC acquired a new stake in shares of SoundThinking in the first quarter worth approximately $413,000. Finally, Mackenzie Financial Corp increased its position in shares of SoundThinking by 120.1% during the first quarter. Mackenzie Financial Corp now owns 94,362 shares of the company’s stock worth $1,599,000 after purchasing an additional 51,498 shares in the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.