SoundThinking (NASDAQ:SSTI) Rating Lowered to "Hold" at Lake Street Capital

Key Points

• Lake Street Capital downgraded SoundThinking from “Buy” to “Hold” and set an $8.00 price target, implying 3.26% downside from the stock’s $8.27 opening price.
• SoundThinking reported a quarterly loss of $0.37 per share, missing the $0.25 consensus estimate, while revenue of $23.89 million also fell short of the $25.77 million forecast.
• Analyst sentiment is broadly neutral, with a consensus “Hold” rating and $12.80 target price; institutional investors own approximately 60.74% of the company.

SoundThinking (NASDAQ:SSTI - Get Free Report) was downgraded by analysts at Lake Street Capital from a "buy" rating to a "hold" rating in a report issued on Friday, MarketBeat reports. They currently have a $8.00 target price on the stock. Lake Street Capital's target price suggests a potential downside of 3.26% from the stock's current price.

SSTI has been the subject of several other reports. Zacks Research raised SoundThinking from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Weiss Ratings downgraded SoundThinking from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen raised SoundThinking from a "strong sell" rating to a "sell" rating in a report on Sunday, May 31st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.80.

SoundThinking Trading Up 1.5%

Shares of SSTI opened at $8.27 on Friday. SoundThinking has a twelve month low of $5.78 and a twelve month high of $13.34. The firm has a market capitalization of $107.10 million, a P/E ratio of -7.13 and a beta of 1.16. The firm's 50-day moving average is $8.24 and its two-hundred day moving average is $7.39.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted 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 company had revenue of $23.89 million for the quarter, compared to analyst estimates of $25.77 million. SoundThinking had a negative net margin of 14.95% and a negative return on equity of 20.76%. Analysts predict that SoundThinking will post -0.69 EPS for the current year.

Institutional Trading of SoundThinking

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its position in SoundThinking by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 15,960 shares of the company's stock worth $208,000 after purchasing an additional 980 shares in the last quarter. Barclays PLC lifted its holdings in SoundThinking by 4.3% in the 4th quarter. Barclays PLC now owns 32,365 shares of the company's stock valued at $260,000 after purchasing an additional 1,347 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of SoundThinking by 160.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company's stock worth $33,000 after purchasing an additional 1,688 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of SoundThinking by 9.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 20,336 shares of the company's stock worth $245,000 after purchasing an additional 1,759 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of SoundThinking by 88.6% during the first 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. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

About SoundThinking

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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