Zacks: Analysts Set $20.92 Price Target for Shotspotter Inc (SSTI)

Shotspotter Inc (NASDAQ:SSTI) has earned an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus target price of $20.92 for the company, according to Zacks. Zacks has also given Shotspotter an industry rank of 114 out of 265 based on the ratings given to related companies.

A number of brokerages have weighed in on SSTI. Zacks Investment Research raised Shotspotter from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Saturday, September 23rd. Northland Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Shotspotter in a report on Friday, November 10th. Roth Capital lifted their price target on Shotspotter from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, Imperial Capital set a $20.00 price target on Shotspotter and gave the company a “buy” rating in a report on Wednesday, November 15th.

In other Shotspotter news, CFO Alan R. Stewart bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were purchased at an average cost of $13.53 per share, for a total transaction of $40,590.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ralph A. Clark bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $14.27 per share, for a total transaction of $28,540.00. The disclosure for this purchase can be found here.

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in Shotspotter in the second quarter valued at $2,577,000. Federated Investors Inc. PA purchased a new stake in shares of Shotspotter during the 2nd quarter valued at $1,151,000. Timpani Capital Management LLC purchased a new stake in shares of Shotspotter during the 2nd quarter valued at $885,000. Goldman Sachs Group Inc. purchased a new stake in Shotspotter during the 2nd quarter worth $181,000. Finally, Manatuck Hill Partners LLC purchased a new stake in Shotspotter during the 2nd quarter worth $1,663,000. Hedge funds and other institutional investors own 24.36% of the company’s stock.

Shotspotter (SSTI) traded up $0.04 during midday trading on Friday, hitting $14.01. The stock had a trading volume of 86,219 shares, compared to its average volume of 103,576. Shotspotter has a 52-week low of $9.33 and a 52-week high of $20.15. The stock has a market capitalization of $134.76 and a PE ratio of -16.48.

Shotspotter (NASDAQ:SSTI) last released its earnings results on Tuesday, November 7th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $6.80 million during the quarter, compared to analysts’ expectations of $5.66 million. During the same period in the prior year, the company posted ($0.96) earnings per share. The company’s revenue was up 70.0% on a year-over-year basis. equities analysts expect that Shotspotter will post -0.6 earnings per share for the current year.

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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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