FY2024 EPS Estimates for SoundThinking Reduced by Analyst

SoundThinking, Inc. (NASDAQ:SSTI) – Equities researchers at William Blair reduced their FY2024 earnings per share (EPS) estimates for SoundThinking in a note issued to investors on Wednesday, November 13th. William Blair analyst L. Dipalma now forecasts that the company will post earnings of ($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 released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $26.25 million for the quarter, compared to analysts’ expectations of $26.20 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. During the same quarter last year, the firm posted ($0.09) earnings per share.

Several other equities analysts also recently weighed in on SSTI. Cantor Fitzgerald upgraded SoundThinking to a “strong-buy” rating in a research report on Thursday, November 14th. 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 report on Wednesday, November 13th. Finally, Craig Hallum decreased their price target on SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SoundThinking has an average rating of “Moderate Buy” and a consensus price target of $21.20.

SoundThinking Stock Performance

NASDAQ SSTI opened at $11.72 on Monday. The company has a market capitalization of $147.54 million, a PE ratio of -97.67 and a beta of 1.17. The business’s fifty day moving average is $11.69 and its 200 day moving average is $13.15. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92.

Institutional Investors Weigh In On SoundThinking

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position 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 worth $102,000 after buying an additional 5,236 shares in the last quarter. Rhumbline Advisers lifted its position in shares of SoundThinking by 5.4% in the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after buying an additional 716 shares in the last quarter. Ibex Investors LLC purchased a new stake in shares of SoundThinking in the second quarter worth about $171,000. Cim LLC lifted its position in shares of SoundThinking by 18.5% in the second quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after buying an additional 3,094 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of SoundThinking in the second quarter worth about $298,000. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoundThinking

In related news, CEO Ralph A. Clark sold 6,479 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total value of $88,373.56. Following the sale, the chief executive officer now directly owns 529,894 shares in the company, valued at approximately $7,227,754.16. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 13,332 shares of company stock valued at $185,826 over the last ninety days. 9.20% of the stock is currently owned by company insiders.

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.