SoundThinking (NASDAQ:SSTI) Stock Rating Lowered by Wall Street Zen

Key Points

• SoundThinking (NASDAQ:SSTI) was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, signaling a bearish outlook from analysts.
• The company reported earnings per share of ($0.24), missing expectations by $0.15, with a consensus price target of $20.80 remaining despite mixed ratings from other analysts.
• Insider selling activity has been noted, with an executive selling shares, while institutional ownership remains strong at 60.74%.

Wall Street Zen lowered shares of SoundThinking (NASDAQ:SSTI - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

SSTI has been the topic of a number of other reports. Roth Mkm reaffirmed a "buy" rating and issued a $30.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Lake Street Capital cut their target price on shares of SoundThinking from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $20.00 target price on shares of SoundThinking in a report on Wednesday, May 14th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.80.

SoundThinking Stock Performance

SSTI stock traded down $0.30 during midday trading on Friday, reaching $12.35. 91,753 shares of the company were exchanged, compared to its average volume of 63,804. SoundThinking has a 1-year low of $9.33 and a 1-year high of $19.43. The stock's 50-day simple moving average is $13.22 and its 200 day simple moving average is $14.81. The company has a market cap of $157.96 million, a price-to-earnings ratio of -15.63 and a beta of 1.26.

SoundThinking (NASDAQ:SSTI - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.15). The business had revenue of $25.89 million during the quarter, compared to analyst estimates of $26.61 million. SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. SoundThinking has set its FY 2025 guidance at EPS. On average, research analysts anticipate that SoundThinking will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nasim Golzadeh sold 1,809 shares of SoundThinking stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $15.46, for a total value of $27,967.14. Following the transaction, the insider directly owned 94,134 shares in the company, valued at $1,455,311.64. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 3,462 shares of company stock valued at $52,052. Company insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On SoundThinking

A number of hedge funds and other institutional investors have recently bought and sold shares of SSTI. JPMorgan Chase & Co. grew its position in SoundThinking by 18.5% in the 4th quarter. JPMorgan Chase & Co. now owns 66,429 shares of the company's stock valued at $868,000 after buying an additional 10,357 shares during the last quarter. Geode Capital Management LLC grew its position in SoundThinking by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 216,121 shares of the company's stock valued at $2,823,000 after buying an additional 2,547 shares during the last quarter. Wells Fargo & Company MN grew its position in SoundThinking by 681.6% in the 4th quarter. Wells Fargo & Company MN now owns 45,468 shares of the company's stock valued at $594,000 after buying an additional 39,651 shares during the last quarter. Renaissance Technologies LLC grew its position in SoundThinking by 17.5% in the 4th quarter. Renaissance Technologies LLC now owns 93,132 shares of the company's stock valued at $1,216,000 after buying an additional 13,900 shares during the last quarter. Finally, Barclays PLC grew its position in SoundThinking by 31.2% in the 4th quarter. Barclays PLC now owns 32,477 shares of the company's stock valued at $424,000 after buying an additional 7,722 shares during the last quarter. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

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.