Ralph A. Clark, the President and CEO of SoundThinking, Inc. (NASDAQ:SSTI), recently sold 1,678 shares of the company's common stock. The shares were sold at prices ranging from $12.21 to $12.59, totaling approximately $20,518. The transaction occurred as the stock trades near its 52-week low of $9.33, with InvestingPro analysis indicating the company is currently undervalued. Following the transaction, Clark retains ownership of 526,707 shares in the company. This sale was made to cover tax obligations and related fees associated with the vesting of restricted stock units. Despite recent market challenges, InvestingPro data shows management's confidence through aggressive share buybacks, while maintaining a strong balance sheet with more cash than debt. Access detailed insights and 10 additional ProTips for SSTI through the comprehensive Pro Research Report.
In other recent news, SoundThinking, Inc. has disclosed the upcoming departure of Pascal Levensohn, the Chair of the Board of Directors. This decision, not due to disagreements with the company's operations, policies, or practices, will take effect following the 2025 Annual Meeting of Stockholders. SoundThinking has seen impressive revenue growth, with a 19.4% increase in the last twelve months, generating over $104 million in revenue. The company reported steady growth in Q3, with a 10% rise in revenue to $26.3 million, and an 18% increase in year-to-date revenues to $78.6 million.
Craig-Hallum adjusted the price target for SoundThinking from $17.50 to $16.00, maintaining a Hold rating on the stock. This adjustment came after the company's mixed third-quarter results and the potential delay in the extension of the New York City contract. Despite these challenges, SoundThinking projects its 2025 revenue to be between $107 million and $109 million, with adjusted EBITDA margins forecasted at 19% to 21%.
In anticipation of the board vacancy, SoundThinking's Nominating and Corporate Governance Committee has engaged a search firm to identify suitable candidates. Four analysts have recently revised their earnings expectations upward for the upcoming period, suggesting positive sentiment about the company's future direction. These are among the recent developments at SoundThinking.
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