Information Provided By:
Fly News Breaks for May 10, 2019
May 10, 2019 | 09:11 EDT
Lake Street analyst Jaeson Schmidt recommends using the post-earnings selloff in shares of ShotSpotter as a buying opportunity. The greater than 20% selloff is less reflective of any significant change to ShotSpotter's growth opportunities and more illustrative of a stock that was up 42% quarter-to-date and "priced for perfection," Schmidt tells investors in a research note. He continues to believe ShotSpotter is positioned to drive meaningful top line growth and improving profitability going forward. The analyst lowered his price target for the shares to $50 from $55 and keeps a Buy rating on the name.