SoundThinking Analysts Cut Their Forecasts After Weak Q3 Results
Avi Kapoor 12 months ago
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SoundThinking, Inc. (NASDAQ:SSTI) reported worse-than-expected third-quarter financial results and cut its FY25 sales guidance below estimates on Wednesday.
SoundThinking reported quarterly losses of 16 cents per share which missed the analyst consensus estimate of losses of 6 cents per share. The company reported quarterly sales of $25.100 million which missed the analyst consensus estimate of $27.953 million.
SoundThinking cut its FY2025 sales guidance from $111.000 million-$113.000 million to $104.000 million.
“We continue to advance our mission of helping communities become safer and more resilient through data and technology,” said Ralph Clark, President and CEO. “In Q3 we expanded our ShotSpotter footprint, introduced new AI capabilities with our CrimeTracer Gen3 beta release, and saw SafePointe gain traction in healthcare settings following California’s AB 2975 mandate. Our Net Promoter Score climbed from 66 to approximately 70—firmly within the world-class category—highlighting the deep trust and satisfaction that drive our exceptional customer retention and recurring revenue base.”
SoundThinking shares dipped 19.6% to trade at $6.78 on Thursday.
These analysts made changes to their price targets on SoundThinking following earnings announcement.
- Cantor Fitzgerald analyst Jonathan Ruykhaver maintained SoundThinking with an Overweight rating and lowered the price target from $20 to $16.
- Citizens analyst Trevor Walsh maintained the stock with a Market Outperform and lowered the price target from $19 to $16.
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