SoundThinking, Inc. (NASDAQ:SSTI) Stock Has Average Target Price of $9.79 According to Analysts

Key Points

• Analysts remain cautious on SoundThinking: Nine analysts give the stock an average “Reduce” rating, consisting of one sell and eight hold recommendations. The average 12-month price target is $9.79.
• Recent results fell short of expectations: SoundThinking reported a quarterly loss of $0.37 per share versus the anticipated $0.25 loss, while revenue of $23.89 million missed the $25.77 million consensus estimate.
• Institutional investors own a majority stake: Hedge funds and other institutions hold 60.74% of SSTI shares, with several investors recently increasing or initiating positions. The stock opened at $8.30, compared with a 52-week range of $5.41 to $11.88.

SoundThinking, Inc. (NASDAQ:SSTI - Get Free Report) has received an average rating of "Reduce" from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.79.

A number of equities analysts recently weighed in on SSTI shares. Northland Securities cut SoundThinking from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Citizens Jmp reaffirmed a "market perform" rating on shares of SoundThinking in a report on Friday, August 14th. Roth Capital downgraded shares of SoundThinking from a "buy" rating to a "neutral" rating and set a $9.00 price objective on the stock. in a report on Wednesday, September 30th. Jefferies Financial Group set a $9.00 target price on shares of SoundThinking in a research report on Wednesday, September 30th. Finally, Craig Hallum lifted their target price on shares of SoundThinking from $6.00 to $8.50 and gave the company a "hold" rating in a research report on Friday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SSTI. Royal Bank of Canada increased its stake in SoundThinking by 88.6% during the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company's stock worth $28,000 after buying an additional 1,960 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of SoundThinking by 31.7% in the second quarter. Versant Capital Management Inc now owns 9,305 shares of the company's stock valued at $84,000 after acquiring an additional 2,239 shares in the last quarter. Sei Investments Co. purchased a new position in shares of SoundThinking in the first quarter valued at approximately $92,000. Bank of America Corp DE lifted its position in shares of SoundThinking by 16.2% in the first quarter. Bank of America Corp DE now owns 14,299 shares of the company's stock valued at $95,000 after acquiring an additional 1,992 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of SoundThinking in the second quarter worth approximately $193,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

SoundThinking Price Performance

NASDAQ:SSTI opened at $8.30 on Thursday. The firm has a market cap of $107.52 million, a price-to-earnings ratio of -6.43 and a beta of 1.11. The company has a 50 day moving average price of $6.75 and a 200-day moving average price of $7.24. SoundThinking has a 1-year low of $5.41 and a 1-year high of $11.88.

SoundThinking (NASDAQ:SSTI - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.12). The firm had revenue of $23.89 million for the quarter, compared to analysts' expectations of $25.77 million. SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%. On average, sell-side analysts anticipate that SoundThinking will post -1.06 earnings per share for the current fiscal year.

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.

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