SoundThinking FY2024 EPS Estimate Reduced by William Blair

SoundThinking, Inc. (NASDAQ:SSTI) – Equities research analysts at William Blair reduced their FY2024 earnings per share estimates for shares of SoundThinking in a research report issued on Wednesday, November 13th. William Blair analyst L. Dipalma now anticipates that the company will earn ($0.41) per share for the year, down from their previous estimate of ($0.36). The consensus estimate for SoundThinking’s current full-year earnings is ($0.39) per share.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. The company had revenue of $26.25 million during the quarter, compared to analysts’ expectations of $26.20 million. During the same period last year, the business earned ($0.09) earnings per share.

Several other equities analysts have also recently issued reports on SSTI. Cantor Fitzgerald upgraded SoundThinking to a “strong-buy” rating in a research report on Thursday. Craig Hallum cut their price objective on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, JMP Securities dropped their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Trading Down 0.8 %

Shares of NASDAQ SSTI opened at $11.43 on Monday. The stock has a market cap of $143.89 million, a P/E ratio of -95.25 and a beta of 1.17. SoundThinking has a twelve month low of $9.33 and a twelve month high of $26.92. The stock has a 50 day moving average of $11.70 and a two-hundred day moving average of $13.16.

Insider Buying and Selling at SoundThinking

In related news, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total transaction of $80,286.76. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 13,332 shares of company stock worth $185,826. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in SoundThinking by 6.9% in the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after purchasing an additional 32,452 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in SoundThinking during the first quarter worth about $923,000. Bares Capital Management Inc. boosted its position in SoundThinking by 4.9% during the 1st quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock valued at $12,313,000 after purchasing an additional 36,187 shares during the period. Bank of New York Mellon Corp grew its stake in SoundThinking by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock worth $482,000 after buying an additional 3,268 shares during the last quarter. Finally, Pullen Investment Management LLC bought a new position in shares of SoundThinking during the second quarter worth about $632,000. 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.