Zacks: ShotSpotter Inc. (SSTI) Receives Consensus Recommendation of “Strong Buy” from Brokerages

ShotSpotter Inc. (NASDAQ:SSTI) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus target price of $16.67 for the company, according to Zacks. Zacks has also given ShotSpotter an industry rank of 87 out of 265 based on the ratings given to related companies.

A number of analysts have weighed in on SSTI shares. Northland Securities started coverage on ShotSpotter in a research report on Monday, July 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Roth Capital started coverage on ShotSpotter in a research report on Monday, July 10th. They set a “buy” rating and a $18.00 price objective for the company. Imperial Capital started coverage on ShotSpotter in a research report on Thursday, July 27th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research raised ShotSpotter from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Saturday.

ShotSpotter (NASDAQ SSTI) traded up 1.51% during mid-day trading on Monday, reaching $10.76. The company’s stock had a trading volume of 27,414 shares. The stock’s market cap is $103.34 million. ShotSpotter has a 12-month low of $9.33 and a 12-month high of $15.36. The firm’s 50 day moving average price is $11.63 and its 200 day moving average price is $12.68.

ShotSpotter (NASDAQ:SSTI) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $5.84 million during the quarter, compared to the consensus estimate of $5.07 million. During the same period last year, the firm earned ($1.44) earnings per share. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities analysts predict that ShotSpotter will post ($0.60) earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of SSTI. K.J. Harrison & Partners Inc acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $128,000. Goldman Sachs Group Inc. acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $181,000. Spark Investment Management LLC acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $231,000. Timpani Capital Management LLC acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $885,000. Finally, Trellus Management Company LLC acquired a new stake in ShotSpotter during the 2nd quarter worth approximately $1,112,000. 21.52% of the stock is owned by institutional investors.

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About ShotSpotter

ShotSpotter, Inc is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure.

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