B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on Shotspotter Inc (SSTI) today and set a price target of $59. The company’s shares closed yesterday at $54.85.
Van Horn commented:
“ShotSpotter (SSTI) offers compelling short-term (+50 sq. miles coming online in the next 90 days) and long-term (+300 sq. miles by 2020) upside potential as the company continues to rapidly grow its gunshot-detection solution coverage and leverage opex to improve profitability. SSTI reported 1Q19 results last night that were only slightly below expectations on the top- line ($9.6M vs. $9.8M) and well above expectations on the gross margin line (58.3% compared to our 57.4%). Adjusted EBITDA was also strong at $1.6M compared to our estimate of $1.6M and the street at $1.5M. The company lowered their guidance by roughly $1M from $45M- $47M to $44.5M-$45.5M, mainly due to the potential timing of new awards. We think this is purely an administrative issue and the business is likely to show up in 2020 if not sooner.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.2% and a 47.9% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Hickok Incorporated.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Shotspotter Inc with a $55.25 average price target, representing a 0.7% upside. In a report released today, Northland Securities also assigned a Buy rating to the stock with a $60 price target.
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Based on Shotspotter Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $302K. In comparison, last year the company had a GAAP net loss of $1.22 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.
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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.
