Roth Capital Increases Earnings Estimates for SoundThinking

SoundThinking, Inc. (NASDAQ:SSTI) – Equities researchers at Roth Capital upped their FY2024 EPS estimates for SoundThinking in a research note issued on Wednesday, November 13th. Roth Capital analyst R. Baldry now forecasts that the company will earn ($0.45) per share for the year, up from their previous estimate of ($0.48). The consensus estimate for SoundThinking’s current full-year earnings is ($0.38) per share. Roth Capital also issued estimates for SoundThinking’s Q4 2024 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.46) EPS.

Several other research analysts have also recently weighed in on SSTI. Cantor Fitzgerald raised shares of SoundThinking to a “strong-buy” rating in a report on Thursday. Craig Hallum cut their price objective on SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a report on Wednesday. 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. Two investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Price Performance

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

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.69%. The business had revenue of $26.25 million during the quarter, compared to the consensus estimate of $26.20 million. During the same period last year, the company posted ($0.09) earnings per share.

Institutional Investors Weigh In On SoundThinking

Several institutional investors and hedge funds have recently modified their holdings of SSTI. Vanguard Group Inc. grew its stake in SoundThinking by 6.9% during the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after acquiring an additional 32,452 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of SoundThinking during the first quarter valued at about $923,000. Bares Capital Management Inc. increased its holdings in shares of SoundThinking by 4.9% in the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock worth $12,313,000 after purchasing an additional 36,187 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in SoundThinking by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock valued at $482,000 after buying an additional 3,268 shares during the last quarter. Finally, Pullen Investment Management LLC purchased a new position in SoundThinking during the 2nd quarter valued at approximately $632,000. Institutional investors own 60.74% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the sale, the chief executive officer now owns 529,894 shares in the company, valued at approximately $7,227,754.16. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is owned by corporate insiders.

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.