Silver Spring Networks, Inc. (SSNI) Stock Rating Upgraded by ValuEngine

Silver Spring Networks, Inc. (NYSE:SSNI) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other equities research analysts have also weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $14.00 price target on shares of Silver Spring Networks in a report on Monday. Guggenheim lowered shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and raised their price target for the company from $13.00 to $16.00 in a report on Monday. Cowen and Company reaffirmed a “buy” rating and set a $16.00 price target on shares of Silver Spring Networks in a report on Tuesday, September 12th. FBR & Co reaffirmed a “buy” rating on shares of Silver Spring Networks in a report on Monday, September 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $11.00 price target (up from $9.00) on shares of Silver Spring Networks in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.04.

Silver Spring Networks (NYSE:SSNI) opened at 16.13 on Monday. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $16.18. The firm’s market cap is $864.00 million. The company’s 50 day moving average is $12.71 and its 200-day moving average is $11.31.

Silver Spring Networks (NYSE:SSNI) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.41. The firm had revenue of $261.60 million for the quarter, compared to analyst estimates of $69.10 million. Silver Spring Networks’s revenue for the quarter was up 114.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. Equities analysts expect that Silver Spring Networks will post $0.03 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2017/09/20/silver-spring-networks-inc-ssni-stock-rating-upgraded-by-valuengine.html.

In other Silver Spring Networks news, insider Raj Vaswani sold 9,611 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.97, for a total transaction of $124,654.67. Following the completion of the transaction, the insider now directly owns 634,727 shares of the company’s stock, valued at approximately $8,232,409.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 84,065 shares of company stock valued at $1,041,724. 29.60% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in SSNI. Teachers Advisors LLC grew its holdings in Silver Spring Networks by 2.3% during the 4th quarter. Teachers Advisors LLC now owns 60,680 shares of the technology company’s stock worth $808,000 after acquiring an additional 1,380 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Silver Spring Networks by 23.4% during the 1st quarter. Nationwide Fund Advisors now owns 32,120 shares of the technology company’s stock worth $363,000 after acquiring an additional 6,097 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Silver Spring Networks by 12.2% during the 1st quarter. Russell Investments Group Ltd. now owns 34,900 shares of the technology company’s stock worth $394,000 after acquiring an additional 3,800 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Silver Spring Networks by 71.9% during the 1st quarter. Wells Fargo & Company MN now owns 206,135 shares of the technology company’s stock worth $2,327,000 after acquiring an additional 86,197 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Silver Spring Networks by 10.5% during the 1st quarter. First Trust Advisors LP now owns 108,378 shares of the technology company’s stock worth $1,224,000 after acquiring an additional 10,329 shares in the last quarter. 78.30% of the stock is owned by institutional investors.

Silver Spring Networks Company Profile

Silver Spring Networks, Inc is engaged in creating, building and deploying large-scale 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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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.

Latest News

Leave a Reply