As previously reported, Northland analyst Tim Klasell downgraded ShotSpotter to Market Perform from Outperform and lowered his price target on the stock to $47 from $60, stating that media reports suggest an additional city or two will churn in the near future following "unexpected" churn in customers in Q1. Though churn remains "very low," it is becoming a concern for investors given the stock's high multiple, said Klasell, who thinks shares will be range-bound until new growth catalysts, such as Smart Cities, International, Campus and Missions, emerge in the next year or two.