Silver Spring Networks Inc. (NYSE:SSNI) has received a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.00.
A number of research analysts have recently issued reports on the company. Canaccord Genuity set a $13.00 price target on Silver Spring Networks and gave the company a “hold” rating in a report on Saturday, August 6th. Pacific Crest reissued a “buy” rating and issued a $17.00 target price on shares of Silver Spring Networks in a report on Friday, August 5th. Zacks Investment Research raised Silver Spring Networks from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Thursday, August 11th. Raymond James Financial Inc. raised Silver Spring Networks from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Thursday, June 30th. Finally, Wunderlich increased their target price on Silver Spring Networks from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, September 28th.
In other news, CTO Donald L. Reeves III sold 5,129 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.00, for a total value of $71,806.00. Following the transaction, the chief technology officer now owns 42,823 shares of the company’s stock, valued at $599,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 29.60% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in Silver Spring Networks during the second quarter valued at about $116,000. Guggenheim Capital LLC boosted its stake in Silver Spring Networks by 5.6% in the second quarter. Guggenheim Capital LLC now owns 11,063 shares of the company’s stock valued at $135,000 after buying an additional 582 shares in the last quarter. Franklin Street Advisors Inc. NC acquired a new stake in Silver Spring Networks during the second quarter valued at about $141,000. AHL Partners LLP acquired a new stake in Silver Spring Networks during the second quarter valued at about $152,000. Finally, KCG Holdings Inc. acquired a new stake in Silver Spring Networks during the second quarter valued at about $181,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.
Shares of Silver Spring Networks (NYSE:SSNI) traded up 0.71% during midday trading on Wednesday, reaching $14.11. The company had a trading volume of 97,273 shares. Silver Spring Networks has a 1-year low of $9.55 and a 1-year high of $16.18. The stock has a market capitalization of $727.93 million, a PE ratio of 10.79 and a beta of 1.76. The company’s 50-day moving average is $13.80 and its 200-day moving average is $13.26.
Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The business had revenue of $71.85 million for the quarter, compared to the consensus estimate of $68.18 million. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. On average, equities research analysts forecast that Silver Spring Networks will post $0.14 EPS for the current year.
About Silver Spring Networks
Silver Spring Networks, Inc is engaged in creating, building and deploying networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
Receive News & Ratings for Silver Spring Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Spring Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.