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

SoundThinking, Inc. (NASDAQ:SSTI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $21.20.

Several equities analysts have weighed in on SSTI shares. JMP Securities lowered their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Craig Hallum lowered their price target on SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a research note on Friday, September 6th.

SoundThinking Price Performance

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

Insiders Place Their Bets

In other news, CEO Ralph A. Clark sold 5,591 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total transaction of $80,286.76. Following the completion of the transaction, the chief executive officer now directly owns 536,373 shares in the company, valued at $7,702,316.28. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 14,327 shares of company stock valued at $199,955 over the last 90 days. 9.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN acquired a new position in shares of SoundThinking during the third quarter worth approximately $5,354,000. Barclays PLC raised its stake in shares of SoundThinking by 245.5% in the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock valued at $286,000 after purchasing an additional 17,591 shares in the last quarter. State Street Corp raised its stake in shares of SoundThinking by 4.3% in the third quarter. State Street Corp now owns 197,024 shares of the company’s stock valued at $2,284,000 after purchasing an additional 8,078 shares in the last quarter. Walleye Capital LLC raised its stake in shares of SoundThinking by 61.9% in the third quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock valued at $602,000 after purchasing an additional 19,861 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of 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 purchasing an additional 5,236 shares in the last quarter. 60.74% of the stock is currently owned by institutional investors and hedge funds.

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.