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SoundThinking (SSTI) Surges 6.1%: Is This an Indication of Further Gains?
SoundThinking, Inc. (SSTI - Free Report) shares soared 6.1% in the last trading session to close at $18.54. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.5% gain over the past four weeks.
SoundThinking’s rally is primarily driven by optimism about the strong momentum in its business due to solid demand for transformative solutions and strategic advisory services. The company’s partnership renewal with the New York City Police Department for its law enforcement enterprise resource and investigative case management software and services bodes well.
This maker of gunfire detection systems is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of +73.9%. Revenues are expected to be $26.89 million, up 5.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For SoundThinking, the consensus EPS estimate for the quarter has been revised 53.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SSTI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
SoundThinking is part of the Zacks Security and Safety Services industry. Alarm.com Holdings (ALRM - Free Report) , another stock in the same industry, closed the last trading session 3.9% lower at $56.94. ALRM has returned -2.4% in the past month.
For Alarm.com, the consensus EPS estimate for the upcoming report has changed -3.5% over the past month to $0.48. This represents a change of -4% from what the company reported a year ago. Alarm.com currently has a Zacks Rank of #3 (Hold).