William Blair Weighs in on SoundThinking, Inc.’s Q3 2023 Earnings (NASDAQ:SSTI)

SoundThinking, Inc. (NASDAQ:SSTI – Get Rating) – Analysts at William Blair increased their Q3 2023 earnings estimates for shares of SoundThinking in a research note issued to investors on Wednesday, May 10th. William Blair analyst M. Pfau now forecasts that the company will post earnings of $0.07 per share for the quarter, up from their prior estimate of $0.05. The consensus estimate for SoundThinking’s current full-year earnings is $0.21 per share. William Blair also issued estimates for SoundThinking’s FY2023 earnings at $0.17 EPS and Q3 2024 earnings at $0.06 EPS.

SoundThinking (NASDAQ:SSTI – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). SoundThinking had a net margin of 7.88% and a negative return on equity of 4.81%. The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $21.46 million.

Several other analysts also recently weighed in on SSTI. Northland Securities dropped their target price on shares of SoundThinking from $52.00 to $45.00 in a research report on Thursday, April 6th. JMP Securities dropped their price objective on shares of SoundThinking from $42.00 to $40.00 in a report on Monday, May 1st. Craig Hallum downgraded shares of SoundThinking from a “buy” rating to a “hold” rating and dropped their price objective for the company from $48.00 to $30.00 in a report on Thursday, April 6th. Imperial Capital downgraded shares of SoundThinking from an “outperform” rating to an “in-line” rating and set a $45.00 price objective on the stock. in a report on Wednesday. Finally, Lake Street Capital dropped their price objective on shares of SoundThinking from $44.00 to $33.00 in a report on Thursday, April 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

SoundThinking Trading Down 4.8 %

NASDAQ:SSTI opened at $22.53 on Thursday. The company has a market cap of $275.77 million, a PE ratio of 44.18, a P/E/G ratio of 4.73 and a beta of 1.47. SoundThinking has a twelve month low of $22.20 and a twelve month high of $39.46. The company’s 50 day moving average is $32.42 and its two-hundred day moving average is $34.10.

Insider Transactions at SoundThinking

In other news, CEO Ralph A. Clark sold 9,786 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $36.08, for a total transaction of $353,078.88. Following the completion of the sale, the chief executive officer now owns 531,328 shares of the company’s stock, valued at $19,170,314.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other SoundThinking news, CEO Ralph A. Clark sold 9,786 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $36.08, for a total transaction of $353,078.88. Following the completion of the transaction, the chief executive officer now owns 531,328 shares of the company’s stock, valued at $19,170,314.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alan R. Stewart sold 11,986 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $33.55, for a total transaction of $402,130.30. Following the transaction, the chief financial officer now directly owns 115,593 shares of the company’s stock, valued at approximately $3,878,145.15. The disclosure for this sale can be found here. Insiders sold 24,921 shares of company stock valued at $862,977 over the last 90 days. 11.00% of the stock is currently owned by corporate insiders.

Institutional Trading of SoundThinking

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in SoundThinking in the first quarter valued at approximately $62,000. Alliancebernstein L.P. acquired a new stake in SoundThinking during the fourth quarter worth approximately $220,000. CI Private Wealth LLC acquired a new stake in SoundThinking during the fourth quarter worth approximately $254,000. Select Equity Group L.P. raised its holdings in SoundThinking by 11.0% during the fourth quarter. Select Equity Group L.P. now owns 79,557 shares of the company’s stock worth $2,691,000 after purchasing an additional 7,868 shares in the last quarter. Finally, Mainsail Management Company LLC acquired a new stake in SoundThinking during the fourth quarter worth approximately $3,787,000. Institutional investors and hedge funds own 61.15% of the company’s stock.

SoundThinking Company Profile

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SoundThinking, Inc engages in providing precision-policing and security solutions. It also includes ShotSpotter, SecureCampus, and ShotSpotter SiteSecure solutions. The company was founded by Robert B. Calhoun, Jason Dunham, and Robert Leroy Showen in 1996 and is headquartered in Fremont, CA.