SoundThinking, Inc. (NASDAQ:SSTI) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts rate SoundThinking “Hold” on average: Of seven covering firms, five recommend holding, one rates it a sell, and one a buy. The average 12-month price target is $10.83, though Cantor Fitzgerald recently lowered its target to $8.
• The stock has declined sharply: Shares opened at $5.58, near their 52-week low of $5.52, and are below both their 50-day and 200-day moving averages.
• Recent quarterly results missed expectations: SoundThinking reported an adjusted loss of $0.37 per share and revenue of $23.89 million, below estimates of a $0.25 loss and $25.77 million, respectively. Institutional investors own approximately 60.74% of the company.

SoundThinking, Inc. (NASDAQ:SSTI - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $10.8333.

Several analysts recently issued reports on the company. Citizens Jmp reissued a "market perform" rating on shares of SoundThinking in a research note on Friday, August 14th. Wall Street Zen downgraded SoundThinking from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Cantor Fitzgerald cut their price objective on shares of SoundThinking from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 14th. Roth Capital set a $13.00 price objective on shares of SoundThinking in a research report on Friday, August 14th. Finally, Northland Securities set a $10.00 target price on shares of SoundThinking in a report on Friday, August 14th.

SoundThinking Trading Down 4.8%

SSTI opened at $5.58 on Friday. The firm's 50 day simple moving average is $7.06 and its two-hundred day simple moving average is $7.16. The company has a market capitalization of $72.26 million, a PE ratio of -4.33 and a beta of 1.16. SoundThinking has a 1-year low of $5.52 and a 1-year high of $12.76.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $25.77 million. Equities analysts forecast that SoundThinking will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of SoundThinking

Several hedge funds have recently bought and sold shares of the stock. Kopion Asset Management LLC boosted its holdings in shares of SoundThinking by 14.6% during the 2nd quarter. Kopion Asset Management LLC now owns 1,114,648 shares of the company's stock valued at $10,088,000 after purchasing an additional 142,346 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of SoundThinking in the second quarter worth about $4,225,000. BlackRock Inc. purchased a new stake in shares of SoundThinking in the second quarter worth about $3,240,000. Quantinno Capital Management LP lifted its position in shares of SoundThinking by 264.8% in the first 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 in the last quarter. Finally, Pullen Investment Management LLC lifted its position in shares of SoundThinking by 14.1% in the first 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 in the last quarter. Hedge funds and other institutional investors own 60.74% of the company's stock.

About SoundThinking

SoundThinking, Inc NASDAQ: SSTI is a public safety technology company that provides data-driven tools for law enforcement agencies and communities. The company's platform is designed to help public safety organizations detect, analyze and respond to incidents, with a focus on improving situational awareness and investigative efficiency.

Its product portfolio includes ShotSpotter, a subscription-based acoustic gunshot detection service that uses sensors and software to identify and locate possible gunfire; CrimeTracer, a law enforcement search and investigative analytics platform; and ResourceRouter, which supports data-informed decisions about the deployment of public safety resources.

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