Equities research analysts at FBR & Co assumed coverage on shares of Silver Spring Networks Inc. (NYSE:SSNI) in a research note issued to investors on Tuesday. The brokerage set an “outperform” rating and a $17.00 price target on the stock. FBR & Co’s target price would indicate a potential upside of 25.18% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $13.00 price objective on shares of Silver Spring Networks in a research report on Friday, November 4th. Zacks Investment Research downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of Silver Spring Networks in a research report on Monday, October 10th. Wunderlich boosted their price objective on shares of Silver Spring Networks from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Pacific Crest reaffirmed a “buy” rating and set a $17.00 price objective on shares of Silver Spring Networks in a research report on Friday, August 5th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $16.13.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

Shares of Silver Spring Networks (NYSE:SSNI) opened at 13.58 on Tuesday. Silver Spring Networks has a 52-week low of $9.55 and a 52-week high of $16.18. The firm has a market capitalization of $702.67 million, a P/E ratio of 12.90 and a beta of 1.74. The stock’s 50 day moving average is $13.84 and its 200-day moving average is $13.19.

Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The business had revenue of $74.20 million for the quarter, compared to the consensus estimate of $75.29 million. During the same period in the prior year, the company earned $0.10 EPS. Silver Spring Networks’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Silver Spring Networks will post $0.17 earnings per share for the current fiscal year.

In other news, CTO Donald L. Reeves III sold 5,129 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.00, for a total value of $71,806.00. Following the completion of the sale, the chief technology officer now directly owns 42,823 shares of the company’s stock, valued at approximately $599,522. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 29.60% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of SSNI. Rational Advisors LLC bought a new stake in shares of Silver Spring Networks during the second quarter worth $116,000. BlackRock Inc. raised its stake in shares of Silver Spring Networks by 170.3% in the third quarter. BlackRock Inc. now owns 10,790 shares of the company’s stock worth $153,000 after buying an additional 6,798 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Silver Spring Networks by 5.6% in the second quarter. Guggenheim Capital LLC now owns 11,063 shares of the company’s stock worth $135,000 after buying an additional 582 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new stake in shares of Silver Spring Networks during the second quarter worth $141,000. Finally, AHL Partners LLP bought a new stake in shares of Silver Spring Networks during the second quarter worth $152,000. 76.15% of the stock is owned by institutional investors.

Silver Spring Networks Company Profile

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.

5 Day Chart for NYSE:SSNI

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