Lake Street Capital Boosts SoundThinking (NASDAQ:SSTI) Price Target to $20.00

SoundThinking (NASDAQ:SSTI) had its price target increased by equities research analysts at Lake Street Capital from $18.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price points to a potential upside of 34.77% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Roth Mkm reiterated a “buy” rating and issued a $30.00 price target on shares of SoundThinking in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of SoundThinking in a report on Wednesday. Finally, Craig Hallum upgraded SoundThinking from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

SoundThinking Stock Performance

SSTI stock opened at $14.84 on Wednesday. The firm has a market cap of $187.96 million, a P/E ratio of -123.66 and a beta of 1.21. SoundThinking has a 1 year low of $9.33 and a 1 year high of $19.43. The stock has a 50-day simple moving average of $16.20 and a 200-day simple moving average of $14.19.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. The firm had revenue of $28.35 million during the quarter, compared to analysts’ expectations of $26.91 million. On average, equities research analysts predict that SoundThinking will post -0.42 EPS for the current year.

Institutional Trading of SoundThinking

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of SoundThinking by 245.5% during the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after purchasing an additional 17,591 shares during the period. JPMorgan Chase & Co. lifted its position in SoundThinking by 93.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,072 shares of the company’s stock worth $650,000 after buying an additional 27,091 shares in the last quarter. Kopion Asset Management LLC boosted its stake in shares of SoundThinking by 24.2% during the 4th quarter. Kopion Asset Management LLC now owns 727,144 shares of the company’s stock valued at $9,497,000 after buying an additional 141,630 shares during the period. R Squared Ltd acquired a new stake in shares of SoundThinking during the 4th quarter valued at $70,000. Finally, Diversified Investment Strategies LLC purchased a new position in shares of SoundThinking during the 4th quarter valued at $131,000. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.