SoundThinking (NASDAQ:SSTI) Given New $19.00 Price Target at JMP Securities

SoundThinking (NASDAQ:SSTI) had its target price cut by JMP Securities from $25.00 to $19.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Craig Hallum lowered their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of SoundThinking in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.20.

SoundThinking Price Performance

Shares of NASDAQ:SSTI opened at $11.43 on Wednesday. The stock’s 50-day moving average is $11.70 and its 200 day moving average is $13.17. The company has a market cap of $146.08 million, a PE ratio of -95.24 and a beta of 1.17. SoundThinking has a 1 year low of $9.33 and a 1 year high of $26.92.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.69% and a negative net margin of 1.39%. The company had revenue of $26.25 million during the quarter, compared to analysts’ expectations of $26.20 million. During the same period in the prior year, the business posted ($0.09) earnings per share. Analysts expect that SoundThinking will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ralph A. Clark sold 5,591 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total value of $80,286.76. Following the completion of the transaction, the chief executive officer now owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. This represents a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 14,327 shares of company stock worth $199,955. Insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Hedge funds and other institutional investors have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN purchased a new position in SoundThinking during the third quarter worth approximately $5,354,000. Barclays PLC raised its stake in SoundThinking by 245.5% during the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after purchasing an additional 17,591 shares during the period. State Street Corp grew its stake in shares of SoundThinking by 4.3% in the 3rd quarter. State Street Corp now owns 197,024 shares of the company’s stock valued at $2,284,000 after buying an additional 8,078 shares during the period. Walleye Capital LLC increased its holdings in shares of SoundThinking by 61.9% during the 3rd quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock worth $602,000 after buying an additional 19,861 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in SoundThinking by 145.2% in the third quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after acquiring an additional 5,236 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

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.