Shotspotter (SSTI) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Shotspotter (NASDAQ:SSTI) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. They currently have $50.00 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. “

Several other analysts also recently issued reports on SSTI. BidaskClub upgraded Shotspotter from a hold rating to a buy rating in a research note on Thursday, April 18th. Lake Street Capital set a $50.00 price target on Shotspotter and gave the company a buy rating in a research note on Friday, May 10th. Dougherty & Co downgraded Shotspotter from a buy rating to a neutral rating in a research note on Friday, May 10th. TheStreet upgraded Shotspotter from a d rating to a c- rating in a research note on Wednesday, February 20th. Finally, Robert W. Baird boosted their price target on Shotspotter from $41.00 to $58.00 and gave the company a positive rating in a research note on Wednesday, February 20th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Shotspotter has a consensus rating of Buy and a consensus price target of $52.89.

SSTI stock opened at $47.15 on Tuesday. Shotspotter has a 1-year low of $26.55 and a 1-year high of $66.14.

Shotspotter (NASDAQ:SSTI) last posted its earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $9.59 million for the quarter, compared to analyst estimates of $9.77 million. Shotspotter had a negative return on equity of 9.63% and a negative net margin of 4.99%. The firm’s revenue was up 38.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) EPS. On average, analysts anticipate that Shotspotter will post 0.09 earnings per share for the current year.

In other news, SVP Robert Samuel Klepper sold 746 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $45.45, for a total transaction of $33,905.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph O. Hawkins sold 1,911 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $46.96, for a total value of $89,740.56. The disclosure for this sale can be found here. Insiders sold a total of 127,034 shares of company stock valued at $5,723,424 over the last 90 days. 36.10% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in SSTI. Metropolitan Life Insurance Co NY grew its stake in Shotspotter by 62.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 4,142 shares of the company’s stock worth $554,000 after purchasing an additional 1,598 shares during the period. Marshall Wace LLP purchased a new position in shares of Shotspotter in the first quarter valued at $110,000. Geode Capital Management LLC grew its position in shares of Shotspotter by 16.5% in the first quarter. Geode Capital Management LLC now owns 95,645 shares of the company’s stock valued at $3,691,000 after purchasing an additional 13,547 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Shotspotter by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,212 shares of the company’s stock valued at $665,000 after purchasing an additional 845 shares in the last quarter. Finally, Blair William & Co. IL grew its position in shares of Shotspotter by 480.6% in the first quarter. Blair William & Co. IL now owns 227,289 shares of the company’s stock valued at $8,773,000 after purchasing an additional 188,139 shares in the last quarter. Hedge funds and other institutional investors own 54.31% of the company’s stock.

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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