BidaskClub Downgrades ShotSpotter (SSTI) to Hold

ShotSpotter (NASDAQ:SSTI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other analysts have also issued reports on SSTI. Northland Securities increased their price objective on ShotSpotter from $20.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Imperial Capital reiterated an “outperform” rating and set a $24.00 price objective (up from $19.75) on shares of ShotSpotter in a report on Thursday, February 22nd. Zacks Investment Research lowered ShotSpotter from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Roth Capital increased their price objective on ShotSpotter from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, March 27th. Finally, Dougherty & Co initiated coverage on ShotSpotter in a report on Tuesday, April 24th. They set a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.80.

Shares of NASDAQ SSTI opened at $27.91 on Tuesday. ShotSpotter has a 12 month low of $9.33 and a 12 month high of $33.19. The firm has a market capitalization of $298.25 million and a price-to-earnings ratio of -48.96.

ShotSpotter (NASDAQ:SSTI) last announced its quarterly earnings data on Tuesday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.05. ShotSpotter had a negative return on equity of 38.76% and a negative net margin of 36.91%. The business had revenue of $6.91 million during the quarter, compared to analyst estimates of $6.59 million. During the same period last year, the company earned ($0.93) earnings per share. ShotSpotter’s quarterly revenue was up 51.5% compared to the same quarter last year. sell-side analysts predict that ShotSpotter will post -0.23 earnings per share for the current fiscal year.

In related news, CFO Alan R. Stewart bought 3,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $17.29 per share, for a total transaction of $51,870.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph O. Hawkins sold 1,911 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $22.04, for a total value of $42,118.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,064 shares of company stock worth $787,519. Corporate insiders own 36.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new position in ShotSpotter during the first quarter valued at about $678,000. Barclays PLC bought a new position in ShotSpotter during the first quarter valued at about $209,000. UBS Group AG raised its holdings in ShotSpotter by 65.7% during the first quarter. UBS Group AG now owns 18,222 shares of the company’s stock valued at $483,000 after buying an additional 7,222 shares in the last quarter. Citadel Advisors LLC bought a new position in ShotSpotter during the first quarter valued at about $299,000. Finally, Tibra Equities Europe Ltd bought a new position in ShotSpotter during the first quarter valued at about $301,000. Institutional investors own 53.18% of the company’s stock.

ShotSpotter Company Profile

ShotSpotter, Inc provides software-as-a-service based gunshot detection solutions for law enforcement officials and security personnel in the United States, South Africa, and internationally. The company's solutions include ShotSpotter Flex, an outdoor public safety solution for cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and SST SecureCampus that helps the law enforcement and security personnel serving universities, colleges, and other educational institutions to mitigate risk and enhance security by notifying authorities and first responders of an active-shooter.

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