SoundThinking

SSTI · NASDAQ

$8.40+$0.12 (+1.45%)TodayMarket closed · Oct 20, 4:10 PM ET

Prev close $8.28

SSTI analyst rating

HoldConsensus of 5 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold5
Underperform0
Sell0

12-month price target · 7 analysts

Average $8.51 (+1.3% upside)

Low: $6.06
Now: $8.40
High: $10.50

Upgrades and downgrades

The latest rating actions, newest first

SSTI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Craig-Hallum	Oct 2, 2026	Maintains	Hold	$6.00 → $8.50	56%
Roth Capital	Sep 30, 2026	Downgrade	Buy → Neutral	$9.00	37%
Lake Street	Aug 14, 2026	Downgrade	Buy → Hold	$8.00	48%
Citizens	Aug 14, 2026	Downgrade	Market Outperform → Market Perform	—	68%
Cantor Fitzgerald	Aug 14, 2026	Maintains	Neutral	$10.00 → $8.00	68%
Cantor Fitzgerald	Jan 7, 2026	Downgrade	Overweight → Neutral	$16.00 → $10.00	68%
Lake Street	Nov 13, 2025	Maintains	Buy	$19.00 → $14.00	48%
Roth Capital	Nov 13, 2025	Maintains	Buy	$30.00 → $20.00	37%
Citizens	Nov 13, 2025	Maintains	Market Outperform	$19.00 → $16.00	68%
Cantor Fitzgerald	Nov 13, 2025	Maintains	Overweight	$20.00 → $16.00	68%

The case for and against

Updated Oct 18, 2026

Bull case

SoundThinking is well positioned because its SafetySmart platform is deeply embedded in police workflows, creating high switching costs and a recurring revenue base that supported more than $23M of TCV in multi-year renewals across ShotSpotter and CrimeTracer customers. Management’s expectation of $99M to $100M of full-year revenue versus $48M in 1H implies a stronger 2H, while the potential Chicago win-back could add about $10M of ARR and roughly $2M in annual EBITDA if it materializes. Even with lowered ARR guidance to over $100M entering 2027 from $110M, the company’s market leadership, wide moat in acoustic detection, and expanding public safety TAM support a constructive long-term outlook.

Bear case

SoundThinking is facing a deterioration in its core business as ShotSpotter growth stalls, coverage stays essentially flat at 1,073 miles, and management itself cited longer sales cycles, weaker bookings, and fewer go-lives. The company’s FY26 reset to $99M-$100M of revenue and 8%-$9% adjusted EBITDA margin, down from $109M-$111M and 16%-18%, signals that execution issues and a tougher procurement backdrop are undermining profitability more than workforce cuts can offset. Its expansion bets have also lagged, with CrimeTracer traction still narrow, PlateRanger in a pressured market, SafePointe deployment delays, and cash falling to $6.4M, leaving limited flexibility to fund growth or absorb further setbacks.

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