ShotSpotter Inc. (SSTI) stock closed the Monday session with a rise of 1.66 percent to $33.00. Stock of the security solutions provider company has gained 10.92 percent in the past 5 sessions after obtaining a favorable evaluation from Wall Street analysts in mid of the last week. Nearly a dozen analysts from different firms and investment banks expect company’s revenues to rise year-on-year by 29 percent.
Until recently, the analysts expected the business in next year to increase revenue to $51 million and EPS to $0.23 per share. But the analysts’ estimates have now changed dramatically, with Wall Street expecting $57 million in sales and $0.24 per share in earnings. At an average of $35, the target price for SSTI shares remained unchanged. The most positive outlook implies a rise to $41.
Next year as demand for new public safety technologies continues to increase, ShotSpotter’s growth will outpace the wider market. SSTI has a commercially efficient application for gunshot sound acoustic detection, followed by “instant” analysis to determine the type of firearm used , the intensity of shooting, and so on. Previously, such devices were only available to the US military, but ShotSpotter was the first to sell mass-produced goods to the civilian market. Developments in ShotSpotter are used not only in towns and protected areas, but also to intercept poachers in nature reserves.
ShotSpotter microphones can be incorporated into utilities such as street lights as well as integrated into smart city and protected area geo-information management systems. ShotSpotter is working toward developing a comprehensive solution and could in the future become a pioneer in a new direction in the market for security technologies.
ShotSpotter Inc. (SSTI) stock was at a rise of 29.41 percent since start of the year and its current market capitalization now reaches to more than 367 million.