SoundThinking (NASDAQ:SSTI) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded SoundThinking from “strong sell” to “hold,” while other recent analyst moves left the stock with an overall average Hold rating and a consensus price target of $14.00.
• SoundThinking reported a Q1 earnings miss, posting -$0.54 EPS versus expectations of -$0.24, while revenue of $24.18 million was slightly below estimates.
• The stock was trading at $8.33 and the company had a market cap of about $107.9 million; institutional ownership remains high, with hedge funds and other institutions holding 60.74% of shares.

SoundThinking (NASDAQ:SSTI - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on SSTI. Weiss Ratings raised shares of SoundThinking from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Wall Street Zen raised SoundThinking from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 31st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SoundThinking currently has an average rating of "Hold" and an average price target of $14.00.

SoundThinking Price Performance

SSTI stock opened at $8.33 on Tuesday. The company has a market capitalization of $107.87 million, a PE ratio of -7.18 and a beta of 1.14. SoundThinking has a 12 month low of $5.78 and a 12 month high of $13.34. The firm's 50-day moving average is $7.73 and its 200 day moving average is $7.39.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kopion Asset Management LLC raised its holdings in shares of SoundThinking by 52.1% in the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company's stock valued at $7,806,000 after purchasing an additional 333,170 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of SoundThinking by 264.8% during the first quarter. Quantinno Capital Management LP now owns 236,581 shares of the company's stock valued at $1,566,000 after purchasing an additional 171,733 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of SoundThinking by 42.9% during the second quarter. Wasatch Advisors LP now owns 534,237 shares of the company's stock valued at $6,974,000 after purchasing an additional 160,451 shares in the last quarter. Mackenzie Financial Corp increased its holdings in SoundThinking by 50.2% during the fourth quarter. Mackenzie Financial Corp now owns 203,411 shares of the company's stock valued at $1,640,000 after buying an additional 67,981 shares during the period. Finally, Rice Hall James & Associates LLC increased its holdings in SoundThinking by 8.9% during the first quarter. Rice Hall James & Associates LLC now owns 444,087 shares of the company's stock valued at $2,940,000 after buying an additional 36,474 shares during the period. Hedge funds and other institutional investors own 60.74% of the company's stock.

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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