Cantor Fitzgerald analyst Jonathan Ruykhaver lowered the firm’s price target on SoundThinking (SSTI) to $16 from $20 and keeps an Overweight rating on the shares. SoundThinking’s Q3 results were solid, with the company showing progress on key AI product initiatives and strong customer retention, and while revenue and adjusted EBITDA fell short of consensus, this was mainly due to the non-renewal of a contract with Puerto Rico and several delays in domestic and international deployments, the analyst tells investors in a research note. Cantor remains positive on the long-term outlook and views the stock as an attractive value play.
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Read More on SSTI:
- SoundThinking downgraded to Hold from Buy at Craig-Hallum
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