Cantor Fitzgerald Weighs in on SoundThinking, Inc.’s FY2024 Earnings (NASDAQ:SSTI)

SoundThinking, Inc. (NASDAQ:SSTI) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for SoundThinking in a research report issued on Wednesday, May 15th. Cantor Fitzgerald analyst Y. Lee expects that the company will post earnings per share of ($0.28) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $20.00 target price on the stock. The consensus estimate for SoundThinking’s current full-year earnings is ($0.32) per share.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.15). SoundThinking had a negative return on equity of 12.69% and a negative net margin of 3.94%. The company had revenue of $25.41 million for the quarter, compared to the consensus estimate of $25.48 million. During the same quarter in the previous year, the firm posted ($0.15) EPS.

A number of other equities research analysts also recently weighed in on the stock. William Blair downgraded shares of SoundThinking from an “outperform” rating to a “market perform” rating in a research note on Friday. Roth Mkm reissued a “buy” rating and issued a $30.00 target price on shares of SoundThinking in a research note on Wednesday. Finally, Craig Hallum decreased their price objective on SoundThinking from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, SoundThinking has an average rating of “Moderate Buy” and an average target price of $23.00.

SoundThinking Trading Up 0.5 %

Shares of NASDAQ:SSTI opened at $14.35 on Friday. The firm has a market capitalization of $183.54 million, a PE ratio of -44.84 and a beta of 1.18. SoundThinking has a 1-year low of $12.98 and a 1-year high of $27.75. The business’s 50 day moving average is $14.66 and its 200-day moving average is $19.05.

Insider Activity at SoundThinking

In related news, CEO Ralph A. Clark sold 2,034 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $16.42, for a total transaction of $33,398.28. Following the sale, the chief executive officer now directly owns 543,857 shares in the company, valued at approximately $8,930,131.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 3,296 shares of company stock valued at $54,459 in the last ninety days. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

A number of hedge funds have recently added to or reduced their stakes in the stock. Spouting Rock Asset Management LLC increased its stake in shares of SoundThinking by 15.9% in the 3rd quarter. Spouting Rock Asset Management LLC now owns 11,633 shares of the company’s stock valued at $208,000 after buying an additional 1,600 shares during the period. Premier Fund Managers Ltd bought a new position in SoundThinking in the fourth quarter valued at about $252,000. Cim LLC acquired a new stake in SoundThinking in the fourth quarter worth about $415,000. Worth Venture Partners LLC bought a new stake in SoundThinking during the 3rd quarter worth about $419,000. Finally, Bank of New York Mellon Corp lifted its position in SoundThinking by 5.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,523 shares of the company’s stock valued at $654,000 after purchasing an additional 1,996 shares during the period. Institutional investors own 60.74% of the company’s stock.

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.