William Blair Reduces Earnings Estimates for SoundThinking

SoundThinking, Inc. (NASDAQ:SSTI) – Equities researchers at William Blair lowered their FY2024 EPS estimates for SoundThinking in a report issued on Wednesday, November 13th. William Blair analyst L. Dipalma now forecasts that the company will earn ($0.41) per share for the year, down from their prior estimate of ($0.36). The consensus estimate for SoundThinking’s current full-year earnings is ($0.39) per share.

SoundThinking (NASDAQ:SSTI) last posted its quarterly 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 business had revenue of $26.25 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted ($0.09) earnings per share.

Several other brokerages have also weighed in on SSTI. Craig Hallum cut their price objective on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. JMP Securities lowered their price target on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald raised shares of SoundThinking to a “strong-buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.20.

SoundThinking Stock Down 0.8 %

Shares of NASDAQ:SSTI opened at $11.43 on Monday. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92. The firm has a fifty day moving average of $11.70 and a two-hundred day moving average of $13.16. The firm has a market capitalization of $143.89 million, a P/E ratio of -95.25 and a beta of 1.17.

Institutional Trading of SoundThinking

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in SoundThinking by 145.2% during the 3rd 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 grew its stake in shares of SoundThinking by 5.4% during the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after purchasing an additional 716 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of SoundThinking in the second quarter valued at approximately $171,000. Cim LLC boosted its position in SoundThinking by 18.5% in the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after buying an additional 3,094 shares during the last quarter. Finally, Barclays PLC raised its position 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 acquiring an additional 17,591 shares during the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

Insider Buying and Selling

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 529,894 shares in the company, valued at $7,227,754.16. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 13,332 shares of company stock valued at $185,826 over the last quarter. Corporate insiders own 9.20% 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.