Shotspotter (NASDAQ:SSTI) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Shotspotter (NASDAQ:SSTI) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $32.00 price objective on the stock.

According to Zacks, “ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company’s product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. “

SSTI has been the subject of a number of other research reports. JMP Securities reiterated an outperform rating and set a $45.00 target price on shares of Shotspotter in a research report on Wednesday. Lake Street Capital raised their price objective on shares of Shotspotter from $23.00 to $32.00 and gave the company a buy rating in a research report on Wednesday. Northland Securities upgraded shares of Shotspotter from a market perform rating to an outperform rating and raised their price objective for the company from $25.00 to $35.00 in a research report on Thursday, January 2nd. William Blair restated a hold rating on shares of Shotspotter in a research report on Thursday, December 19th. Finally, Roth Capital raised their price objective on shares of Shotspotter from to and gave the company a buy rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Shotspotter has an average rating of Buy and an average target price of $39.11.

Shares of Shotspotter stock traded down $3.15 during mid-day trading on Thursday, reaching $36.90. 273,400 shares of the stock were exchanged, compared to its average volume of 124,389. The company has a market cap of $457.77 million, a price-to-earnings ratio of 246.00 and a beta of 2.60. The firm has a 50-day simple moving average of $28.66 and a 200 day simple moving average of $25.63. Shotspotter has a fifty-two week low of $18.44 and a fifty-two week high of $58.61.

Shotspotter (NASDAQ:SSTI) last announced its earnings results on Tuesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $10.92 million during the quarter, compared to analysts’ expectations of $10.51 million. Shotspotter had a net margin of 4.41% and a return on equity of 6.21%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. On average, equities research analysts expect that Shotspotter will post 0.27 EPS for the current fiscal year.

In other Shotspotter news, VP Joseph O. Hawkins sold 1,911 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $29.01, for a total value of $55,438.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Shotspotter by 695.1% in the 4th quarter. Citigroup Inc. now owns 1,630 shares of the company’s stock valued at $42,000 after purchasing an additional 1,425 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Shotspotter in the 4th quarter valued at about $44,000. Quantbot Technologies LP bought a new position in shares of Shotspotter in the 4th quarter valued at about $60,000. Marshall Wace LLP bought a new position in shares of Shotspotter in the 1st quarter valued at about $110,000. Finally, Ieq Capital LLC bought a new position in shares of Shotspotter in the 4th quarter valued at about $230,000. 65.53% of the stock is currently owned by 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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Analyst Recommendations for Shotspotter (NASDAQ:SSTI)

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