SoundThinking, Inc. (NASDAQ:SSTI) Analysts Set $21.20 Consensus Price Target

SoundThinking, Inc. (NASDAQ:SSTI – Get Free Report) has received a consensus rating of “Moderate Buy” from six research firms monitoring the company, according to recent reports. Among the analysts, two have given the stock a hold recommendation, three have recommended a buy, and one has issued a strong buy recommendation. The average target price anticipated by these brokerages for SoundThinking over the next year is $21.20.

The stock has been the focus of various research updates recently. On November 14th, Cantor Fitzgerald upgraded SoundThinking to a “strong-buy” rating. Earlier, on November 13th, JMP Securities reduced its target price for SoundThinking from $25.00 to $19.00 while keeping a “market outperform” rating. On the same day, Craig Hallum also lowered their target from $17.50 to $16.00 and assigned a hold rating to the stock.

SoundThinking Shares Decline

On Friday, shares of SSTI opened at $12.83. Over the past year, SoundThinking's stock has fluctuated significantly, ranging from a low of $9.33 to a high of $26.92. The company currently maintains a 50-day moving average at $11.93 and a 200-day moving average of $12.98. SoundThinking's market capitalization stands at approximately $161.52 million, with a price-to-earnings ratio of -106.92 and a beta of 1.19.

In its latest earnings report released on November 12th, SoundThinking announced an earnings per share (EPS) of ($0.11), which was below the consensus estimate of ($0.08). For the quarter, the company reported revenue of $26.25 million, slightly above analyst expectations of $26.20 million. The company is currently facing challenges, indicated by a negative net margin of 1.39% and a negative return on equity of 8.74%. Research analysts predict a loss of -0.39 earnings per share for SoundThinking in the current fiscal year.

Insider Activity at SoundThinking

In related news, CFO Alan R. Stewart sold 15,000 shares of the company on December 10th, with the stock sold at an average price of $13.95. This transaction totaled $209,250. Following the sale, Stewart retained 138,851 shares, valued at approximately $1.94 million, representing a 9.75% decrease in his holdings. The transaction details were disclosed in a filing with the SEC. In total, insiders have sold 19,688 shares of SoundThinking stock worth $267,576 over the past three months, with 9.20% of the company’s shares currently owned by insiders.

Institutional Ownership Changes

Several hedge funds have recently altered their positions in SoundThinking. Barclays PLC boosted its stake by an impressive 245.5% during the third quarter, now holding 24,755 shares valued at $286,000 after acquiring 17,591 additional shares. Disciplined Growth Investors Inc. MN entered a new position valued at $5,354,000 during the same quarter. State Street Corp increased its holdings by 4.3%, now owning 197,024 shares valued at $2.28 million after acquiring 8,078 shares. Walleye Capital LLC also grew its stake by 61.9%, reaching 51,932 shares worth $602,000 after acquiring an additional 19,861 shares. BNP Paribas Financial Markets raised its stake by 145.2%, now owning 8,843 shares valued at $102,000. Overall, institutions own approximately 60.74% of the stock.

Company Overview: SoundThinking, Inc.

SoundThinking, Inc. is a technology company focused on public safety. The firm provides innovative solutions and strategic advisory services tailored to law enforcement and community leaders. Their SafetySmart Platform features an integrated suite of data-driven tools designed to enhance efficiency in public safety efforts and community violence prevention.

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