SoundThinking (NASDAQ:SSTI) Price Target Cut to $19.00 by Analysts at Lake Street Capital

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 - Get Free Report) had its price target cut by research analysts at Lake Street Capital from $20.00 to $19.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's target price suggests a potential upside of 54.28% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $20.00 price objective on shares of SoundThinking in a research report on Wednesday, May 14th. Roth Mkm reiterated a "buy" rating and set a $30.00 price objective on shares of SoundThinking in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SoundThinking presently has a consensus rating of "Buy" and an average target price of $20.80.

SoundThinking Stock Up 10.2%

Shares of NASDAQ:SSTI traded up $1.14 during trading on Wednesday, hitting $12.32. 63,831 shares of the company traded hands, compared to its average volume of 56,586. The stock has a market capitalization of $156.07 million, a price-to-earnings ratio of -20.16 and a beta of 1.26. The business's fifty day moving average is $13.65 and its 200-day moving average is $14.85. SoundThinking has a one year low of $9.33 and a one year high of $19.43.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.15). The company had revenue of $25.89 million for the quarter, compared to the consensus estimate of $26.61 million. SoundThinking had a negative net margin of 7.39% and a negative return on equity of 10.77%. On average, analysts forecast that SoundThinking will post -0.42 EPS for the current year.

Insiders Place Their Bets

In other SoundThinking news, insider Nasim Golzadeh sold 1,809 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 94,134 shares in the company, valued at $1,455,311.64. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 3,474 shares of company stock valued at $53,205 in the last three months. Corporate insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On SoundThinking

Institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC acquired a new stake in SoundThinking in the first quarter worth approximately $98,000. Strs Ohio acquired a new stake in SoundThinking in the first quarter worth approximately $127,000. R Squared Ltd acquired a new stake in SoundThinking in the second quarter worth approximately $156,000. BNP Paribas Financial Markets lifted its position in SoundThinking by 77.0% in the fourth quarter. BNP Paribas Financial Markets now owns 15,655 shares of the company's stock worth $204,000 after purchasing an additional 6,812 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of SoundThinking by 6.5% in the second quarter. Rhumbline Advisers now owns 15,960 shares of the company's stock valued at $208,000 after buying an additional 980 shares in the last quarter. 60.74% of the stock is currently owned by institutional investors and hedge funds.

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.

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