Roth Capital Increases Earnings Estimates for SoundThinking

SoundThinking, Inc. (NASDAQ:SSTI) – Analysts at Roth Capital upped their FY2024 EPS estimates for SoundThinking in a research note issued on Wednesday, November 13th. Roth Capital analyst R. Baldry now anticipates that the company will post earnings per share of ($0.45) for the year, up from their prior forecast of ($0.48). The consensus estimate for SoundThinking’s current full-year earnings is ($0.38) per share. Roth Capital also issued estimates for SoundThinking’s Q4 2024 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.46) EPS.

Several other brokerages have also weighed in on SSTI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of SoundThinking in a research report on Friday, September 6th. JMP Securities dropped their price objective on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SoundThinking currently has an average rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Trading Up 2.9 %

Shares of SoundThinking stock opened at $11.52 on Friday. SoundThinking has a twelve month low of $9.33 and a twelve month high of $26.92. The business’s 50 day simple moving average is $11.73 and its 200-day simple moving average is $13.18.

Institutional Investors Weigh In On SoundThinking

A number of institutional investors have recently added to or reduced their stakes in SSTI. Federated Hermes Inc. increased its position in shares of SoundThinking by 14.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock valued at $18,331,000 after purchasing an additional 190,000 shares during the period. Bares Capital Management Inc. boosted its stake in SoundThinking by 4.9% during the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock valued at $12,313,000 after buying an additional 36,187 shares in the last quarter. Vanguard Group Inc. grew its holdings in SoundThinking by 6.9% during the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after acquiring an additional 32,452 shares during the period. Rice Hall James & Associates LLC raised its position in SoundThinking by 56.6% in the third quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company’s stock worth $4,197,000 after acquiring an additional 130,913 shares in the last quarter. Finally, Pullen Investment Management LLC raised its position in SoundThinking by 70.0% in the third quarter. Pullen Investment Management LLC now owns 88,152 shares of the company’s stock worth $1,022,000 after acquiring an additional 36,290 shares in the last quarter. 60.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SoundThinking

In related news, CEO Ralph A. Clark sold 6,479 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the transaction, the chief executive officer now owns 529,894 shares in the company, valued at $7,227,754.16. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is currently owned by corporate insiders.

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.