Brokerages Set SoundThinking, Inc. (NASDAQ:SSTI) Price Target at $22.50

SoundThinking, Inc. (NASDAQ:SSTI) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.50.

Several equities analysts have recently weighed in on SSTI shares. Craig Hallum cut their target price on SoundThinking from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, May 15th. Lake Street Capital initiated coverage on shares of SoundThinking in a research note on Friday, May 24th. They issued a “buy” rating and a $21.00 price target on the stock. Roth Mkm reiterated a “buy” rating and set a $30.00 price objective on shares of SoundThinking in a report on Wednesday, May 15th. Cantor Fitzgerald dropped their target price on shares of SoundThinking from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Finally, William Blair downgraded shares of SoundThinking from an “outperform” rating to a “market perform” rating in a research note on Friday, May 17th.

SoundThinking Stock Performance

NASDAQ SSTI opened at $14.15 on Tuesday. The company has a market cap of $180.98 million, a P/E ratio of -44.22 and a beta of 1.21. The business’s 50 day moving average price is $14.43 and its 200-day moving average price is $18.18. SoundThinking has a fifty-two week low of $12.98 and a fifty-two week high of $26.92.

SoundThinking (NASDAQ:SSTI) last released its earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The company had revenue of $25.41 million for the quarter, compared to the consensus estimate of $25.48 million. SoundThinking had a negative net margin of 3.94% and a negative return on equity of 12.69%. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, equities analysts predict that SoundThinking will post -0.35 EPS for the current year.

Institutional Investors Weigh In On SoundThinking

Hedge funds have recently made changes to their positions in the company. Bares Capital Management Inc. lifted its stake in shares of SoundThinking by 4.9% during the 1st quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock worth $12,313,000 after purchasing an additional 36,187 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of SoundThinking during the 1st quarter worth $923,000. Vanguard Group Inc. lifted its stake in shares of SoundThinking by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after purchasing an additional 32,452 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of SoundThinking by 23.3% during the 1st quarter. GSA Capital Partners LLP now owns 71,848 shares of the company’s stock worth $1,141,000 after purchasing an additional 13,555 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of SoundThinking by 10.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 75,630 shares of the company’s stock worth $1,201,000 after purchasing an additional 7,150 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.