SoundThinking price target lowered to $16 from $17.50 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on SoundThinking (SSTI) to $16 from $17.50 and keeps a Hold rating on the shares. The firm notes SoundThinking delivered mixed Q3 results with slight upside on revenues but a miss on adjusted EBITDA driven by downside on gross margin. Guidance for FY24 was reiterated as the company went “live” in four new cities and one university, while expanding coverage with eight current partners, Craig-Hallum adds.