Northland Securities Cuts Shotspotter (NASDAQ:SSTI) Price Target to $25.00

Shotspotter (NASDAQ:SSTI) had its price target cut by investment analysts at Northland Securities from $40.00 to $25.00 in a research note issued on Wednesday, The Fly reports. Northland Securities’ target price would suggest a potential upside of 15.53% from the company’s current price.

SSTI has been the subject of several other research reports. B. Riley restated a “buy” rating and issued a $50.00 price target on shares of Shotspotter in a report on Wednesday. William Blair restated a “market perform” rating on shares of Shotspotter in a report on Wednesday, August 7th. BidaskClub lowered shares of Shotspotter from a “sell” rating to a “strong sell” rating in a report on Friday, September 27th. TheStreet lowered shares of Shotspotter from a “c-” rating to a “d+” rating in a report on Wednesday, August 7th. Finally, National Securities upgraded shares of Shotspotter from a “neutral” rating to a “buy” rating and reduced their price target for the company from $44.00 to $34.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $39.13.

Shares of NASDAQ:SSTI traded up $1.30 during trading hours on Wednesday, hitting $21.64. The company’s stock had a trading volume of 440,000 shares, compared to its average volume of 157,445. Shotspotter has a 52 week low of $18.44 and a 52 week high of $58.61. The company has a market capitalization of $230.35 million, a price-to-earnings ratio of -83.23 and a beta of 2.58. The firm’s fifty day moving average price is $20.75 and its 200 day moving average price is $34.71.

Shotspotter (NASDAQ:SSTI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Shotspotter had a negative net margin of 2.87% and a negative return on equity of 4.86%. The business had revenue of $9.98 million during the quarter, compared to analyst estimates of $10.89 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Shotspotter will post 0.11 EPS for the current year.

In other news, VP Joseph O. Hawkins sold 1,911 shares of Shotspotter stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $29.01, for a total value of $55,438.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.40% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of SSTI. Marshall Wace LLP bought a new position in Shotspotter during the first quarter valued at approximately $110,000. Taylor Wealth Management Partners boosted its holdings in shares of Shotspotter by 0.6% in the 2nd quarter. Taylor Wealth Management Partners now owns 95,466 shares of the company’s stock valued at $4,220,000 after acquiring an additional 585 shares during the last quarter. Redwood Investments LLC acquired a new position in Shotspotter during the second quarter worth $13,677,000. Swiss National Bank acquired a new stake in shares of Shotspotter in the second quarter valued at about $641,000. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Shotspotter by 3.8% in the second quarter. Conestoga Capital Advisors LLC now owns 8,480 shares of the company’s stock valued at $375,000 after purchasing an additional 310 shares during the period. 72.46% of the stock is currently owned by hedge funds and other institutional investors.

Shotspotter Company Profile

ShotSpotter, Inc provides precision-policing and security solutions for law enforcement and security personnel in the United States and South Africa. Its solutions include ShotSpotter Flex, a public safety solution, which serves cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and ShotSpotter Missions, a cloud-based patrol management solution to help police departments plan patrol missions and tactics for crime deterrence.

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