SoundThinking, Inc. (NASDAQ:SSTI) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst sentiment is mixed: Seven firms collectively rate SoundThinking “Hold,” with three buy, three hold and one sell recommendation. The average 12-month price target is $14.00.
• Recent financial results fell short of expectations: SoundThinking reported a quarterly loss of $0.54 per share versus the $0.24 consensus loss estimate, while revenue of $24.18 million was slightly below forecasts. Analysts expect a full-year loss of $0.69 per share.
• Shares opened at $7.75, giving the company a market capitalization of about $100.4 million; institutional investors own 60.74% of the stock, with several firms recently increasing their holdings.

SoundThinking, Inc. (NASDAQ:SSTI - Get Free Report) has received an average rating of "Hold" from the seven research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.00.

A number of research firms have recently weighed in on SSTI. Weiss Ratings downgraded shares of SoundThinking from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday. Zacks Research raised shares of SoundThinking from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of SoundThinking from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 31st.

SoundThinking Stock Performance

Shares of SSTI opened at $7.75 on Friday. The company has a market capitalization of $100.36 million, a P/E ratio of -6.68 and a beta of 1.14. SoundThinking has a one year low of $5.78 and a one year high of $13.34. The stock has a 50-day moving average price of $8.11 and a 200 day moving average price of $7.39.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.30). SoundThinking had a negative return on equity of 20.76% and a negative net margin of 14.95%.The business had revenue of $24.18 million for the quarter, compared to analysts' expectations of $24.27 million. As a group, equities research analysts forecast that SoundThinking will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoundThinking

Institutional investors have recently modified their holdings of the stock. Kopion Asset Management LLC grew its stake in SoundThinking by 14.6% in the second quarter. Kopion Asset Management LLC now owns 1,114,648 shares of the company's stock worth $10,088,000 after purchasing an additional 142,346 shares in the last quarter. Versant Capital Management Inc raised its stake in SoundThinking by 31.7% during the second quarter. Versant Capital Management Inc now owns 9,305 shares of the company's stock valued at $84,000 after buying an additional 2,239 shares in the last quarter. Bank of America Corp DE raised its stake in SoundThinking by 16.2% during the first quarter. Bank of America Corp DE now owns 14,299 shares of the company's stock valued at $95,000 after buying an additional 1,992 shares in the last quarter. Royal Bank of Canada lifted its holdings 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 during the last quarter. Finally, 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. Institutional investors and hedge funds own 60.74% of the company's stock.

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.

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