Analysts forecast that Shotspotter Inc (NASDAQ:SSTI) will announce $8.93 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Shotspotter’s earnings, with the lowest sales estimate coming in at $8.90 million and the highest estimate coming in at $8.97 million. Shotspotter posted sales of $6.85 million in the same quarter last year, which would indicate a positive year over year growth rate of 30.4%. The firm is expected to issue its next earnings results on Tuesday, November 6th.
On average, analysts expect that Shotspotter will report full-year sales of $33.93 million for the current financial year, with estimates ranging from $33.82 million to $34.03 million. For the next financial year, analysts anticipate that the business will post sales of $45.05 million per share, with estimates ranging from $43.05 million to $46.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Shotspotter.
Shotspotter (NASDAQ:SSTI) last issued its quarterly earnings results on Thursday, August 2nd. The company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.04. The business had revenue of $8.93 million for the quarter, compared to analyst estimates of $8.01 million. Shotspotter had a negative return on equity of 36.43% and a negative net margin of 19.52%. Shotspotter’s quarterly revenue was up 52.9% compared to the same quarter last year. During the same period last year, the company posted ($1.16) earnings per share.
SSTI has been the topic of several research reports. Imperial Capital set a $50.00 target price on Shotspotter and gave the company a “buy” rating in a research note on Monday, August 6th. BidaskClub lowered Shotspotter from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 16th. Roth Capital boosted their target price on Shotspotter to $60.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, Lake Street Capital initiated coverage on Shotspotter in a research note on Tuesday, May 29th. They issued a “buy” rating and a $36.00 target price on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.14.
Shotspotter stock traded up $1.37 during mid-day trading on Friday, reaching $62.81. 254,213 shares of the company’s stock were exchanged, compared to its average volume of 208,120. Shotspotter has a one year low of $10.75 and a one year high of $66.14.
In other news, major shareholder Gary M. Lauder sold 21,448 shares of Shotspotter stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $42.78, for a total value of $917,545.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gary M. Lauder sold 31,946 shares of Shotspotter stock in a transaction on Friday, August 10th. The shares were sold at an average price of $46.13, for a total value of $1,473,668.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,775 shares of company stock worth $4,688,252. Corporate insiders own 36.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Shotspotter in the second quarter valued at $680,000. Granahan Investment Management Inc. MA purchased a new position in shares of Shotspotter in the second quarter valued at $7,490,000. MetLife Investment Advisors LLC purchased a new position in shares of Shotspotter in the second quarter valued at $137,000. Hilltop Holdings Inc. purchased a new position in shares of Shotspotter in the second quarter valued at $235,000. Finally, FMR LLC grew its position in shares of Shotspotter by 68.5% in the second quarter. FMR LLC now owns 479,371 shares of the company’s stock valued at $18,183,000 after purchasing an additional 194,844 shares in the last quarter. Institutional investors own 55.65% of the company’s stock.
Shotspotter Company Profile
ShotSpotter, Inc provides software-as-a-service based gunshot detection solutions for law enforcement officials and security personnel in the United States, South Africa, and internationally. The company's solutions include ShotSpotter Flex, an outdoor public safety solution for cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and SST SecureCampus that helps the law enforcement and security personnel serving universities, colleges, and other educational institutions to mitigate risk and enhance security by notifying authorities and first responders of an active-shooter.
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