Shotspotter (SSTI) Downgraded to “Buy” at BidaskClub

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BidaskClub cut shares of Shotspotter (NASDAQ:SSTI) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Several other research firms also recently weighed in on SSTI. B. Riley lifted their target price on Shotspotter to $59.00 and gave the company a buy rating in a research report on Wednesday, February 20th. Robert W. Baird raised their price target on Shotspotter from $41.00 to $58.00 and gave the company a positive rating in a report on Wednesday, February 20th. National Securities cut Shotspotter from a buy rating to a neutral rating in a report on Wednesday, February 6th. TheStreet raised Shotspotter from a d rating to a c- rating in a report on Wednesday, February 20th. Finally, JMP Securities decreased their price target on Shotspotter from $62.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, November 14th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Shotspotter presently has a consensus rating of Buy and a consensus target price of $50.01.

NASDAQ SSTI traded down $0.28 on Thursday, hitting $40.29. 30,287 shares of the company traded hands, compared to its average volume of 125,503. The company has a market capitalization of $439.04 million, a PE ratio of -154.96, a price-to-earnings-growth ratio of 8.37 and a beta of 2.93. Shotspotter has a 52-week low of $22.34 and a 52-week high of $66.14.

Shotspotter (NASDAQ:SSTI) last released its earnings results on Tuesday, February 19th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $9.71 million for the quarter, compared to the consensus estimate of $9.47 million. Shotspotter had a negative return on equity of 17.00% and a negative net margin of 7.84%. Sell-side analysts anticipate that Shotspotter will post 0.14 earnings per share for the current fiscal year.

In other news, VP Joseph O. Hawkins sold 1,911 shares of Shotspotter stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $46.96, for a total value of $89,740.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alan R. Stewart sold 14,000 shares of Shotspotter stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $44.99, for a total value of $629,860.00. The disclosure for this sale can be found here. Insiders sold 123,922 shares of company stock worth $5,579,359 over the last ninety days. Insiders own 36.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in Shotspotter in the third quarter worth about $7,110,000. BlackRock Inc. grew its position in Shotspotter by 31.0% in the third quarter. BlackRock Inc. now owns 466,873 shares of the company’s stock worth $28,615,000 after acquiring an additional 110,611 shares in the last quarter. Northern Trust Corp grew its position in Shotspotter by 872.1% in the second quarter. Northern Trust Corp now owns 74,697 shares of the company’s stock worth $2,834,000 after acquiring an additional 67,013 shares in the last quarter. Vanguard Group Inc grew its position in Shotspotter by 26.6% in the third quarter. Vanguard Group Inc now owns 303,946 shares of the company’s stock worth $18,629,000 after acquiring an additional 63,857 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Shotspotter by 26.6% in the third quarter. Vanguard Group Inc. now owns 303,946 shares of the company’s stock worth $18,629,000 after acquiring an additional 63,857 shares in the last quarter. 56.15% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Shotspotter (NASDAQ:SSTI)

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