Lake Street Capital Lowers SoundThinking (NASDAQ:SSTI) Price Target to $19.00

Key Points

• SoundThinking's price target has been reduced from $20.00 to $19.00 by Lake Street Capital, while still maintaining a "buy" rating, suggesting a potential upside of 54.28%.
• Despite the target price cut, five analysts have rated the stock as a buy, with a consensus target price of $20.80.
• SoundThinking's shares increased by 10.2% during trading, with the stock hitting $12.32, reflecting a market capitalization of $156.07 million.

SoundThinking (NASDAQ:SSTI - Free Report) had its target price reduced by Lake Street Capital from $20.00 to $19.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on SSTI. Roth Mkm reaffirmed a "buy" rating and set a $30.00 target price on shares of SoundThinking in a research note on Wednesday, May 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price objective on shares of SoundThinking in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

SoundThinking Stock Up 0.4%

Shares of NASDAQ SSTI traded up $0.05 during trading on Wednesday, hitting $12.81. The company had a trading volume of 56,827 shares, compared to its average volume of 58,525. The firm has a market capitalization of $163.84 million, a price-to-earnings ratio of -16.22 and a beta of 1.26. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $19.43. The stock has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $14.84.

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

Insider Transactions at SoundThinking

In related news, insider Nasim Golzadeh sold 1,809 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $15.46, for a total value of $27,967.14. Following the transaction, the insider owned 94,134 shares of the company's stock, valued at $1,455,311.64. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 3,474 shares of company stock valued at $53,205 in the last ninety days. 10.40% of the stock is owned by insiders.

Hedge Funds Weigh In On SoundThinking

Several hedge funds have recently added to or reduced their stakes in SSTI. Kopion Asset Management LLC increased its position in shares of SoundThinking by 8.3% during the second quarter. Kopion Asset Management LLC now owns 586,652 shares of the company's stock worth $7,659,000 after purchasing an additional 44,976 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of SoundThinking by 42.9% in the 2nd quarter. Wasatch Advisors LP now owns 534,237 shares of the company's stock worth $6,974,000 after acquiring an additional 160,451 shares during the period. Rice Hall James & Associates LLC boosted its holdings in SoundThinking by 5.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 420,187 shares of the company's stock valued at $7,122,000 after purchasing an additional 22,459 shares in the last quarter. Harvey Partners LLC grew its holdings in SoundThinking by 3.0% during the second quarter. Harvey Partners LLC now owns 277,107 shares of the company's stock worth $3,618,000 after acquiring an additional 8,107 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 2,547 shares in 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.