Citizens Jmp Issues Pessimistic Forecast for SoundThinking (NASDAQ:SSTI) Stock Price

SoundThinking (NASDAQ:SSTI) had its target price lowered by stock analysts at Citizens Jmp from $19.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 127.08% from the stock’s current price.

SSTI has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SoundThinking in a research report on Wednesday, October 8th. Cantor Fitzgerald reduced their price target on shares of SoundThinking from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday. Lake Street Capital decreased their price target on shares of SoundThinking from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Wall Street Zen cut shares of SoundThinking from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Zacks Research upgraded SoundThinking from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SoundThinking has a consensus rating of “Moderate Buy” and an average target price of $18.50.

SoundThinking Trading Down 16.4%

SSTI stock traded down $1.38 during midday trading on Thursday, hitting $7.05. The stock had a trading volume of 309,495 shares, compared to its average volume of 65,679. The business has a fifty day moving average price of $11.11 and a two-hundred day moving average price of $12.97. SoundThinking has a 1-year low of $6.29 and a 1-year high of $19.43. The firm has a market cap of $90.13 million, a P/E ratio of -8.85 and a beta of 1.17.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. The business had revenue of $25.10 million during the quarter, compared to analyst estimates of $27.97 million. SoundThinking has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that SoundThinking will post -0.42 EPS for the current year.

Insider Activity

In other news, CEO Ralph A. Clark sold 16,161 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $11.80, for a total transaction of $190,699.80. Following the completion of the transaction, the chief executive officer owned 588,638 shares in the company, valued at approximately $6,945,928.40. This represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 18,925 shares of company stock valued at $223,967 in the last 90 days. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in shares of SoundThinking in the third quarter valued at approximately $31,000. State of Wyoming purchased a new position in SoundThinking in the 2nd quarter valued at approximately $33,000. MetLife Investment Management LLC purchased a new position in SoundThinking in the 1st quarter valued at approximately $98,000. Strs Ohio bought a new stake in SoundThinking during the 1st quarter valued at $127,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of SoundThinking during the second quarter worth $132,000. 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.