Shotspotter (SSTI) Receives a Buy from Northland Securities

By Carrie Williams

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Shotspotter (SSTIResearch Report), with a price target of $49.00. The company’s shares closed last Friday at $40.15.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 28.4% and a 57.4% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Shotspotter with a $49.00 average price target, a 17.4% upside from current levels. In a report issued on May 12, Craig-Hallum also upgraded the stock to Buy with a $45.00 price target.

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Based on Shotspotter’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $12.65 million and GAAP net loss of $220K. In comparison, last year the company earned revenue of $10.92 million and had a net profit of $1.33 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SSTI in relation to earlier this year.

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ShotSpotter, Inc. provides gunshot detection solutions that help law enforcement officials and security personnel identify, locate, and respond to gun violence. It offers solutions on a fobased subscription model to customers around the world. The company was founded by Robert B. Calhoun, Jason Dunham, and Robert Leroy Showen in 1996 and is headquartered in Newark, CA.