Analysts at Williams Capital started coverage on shares of Silver Spring Networks Inc. (NYSE:SSNI) in a report released on Monday. The brokerage set a “buy” rating and a $18.00 price target on the stock. Williams Capital’s price target points to a potential upside of 22.45% from the company’s previous close.

Several other equities analysts have also recently issued reports on SSNI. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $17.00 price target (up from $15.00) on shares of Silver Spring Networks in a research report on Monday, October 10th. Wunderlich lifted their price target on Silver Spring Networks from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Zacks Investment Research cut Silver Spring Networks from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Pacific Crest reiterated a “buy” rating and set a $17.00 price target on shares of Silver Spring Networks in a research report on Friday, August 5th. Finally, FBR & Co assumed coverage on Silver Spring Networks in a research report on Tuesday, November 8th. They set an “outperform” rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $16.33.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

Shares of Silver Spring Networks (NYSE:SSNI) traded down 0.34% during mid-day trading on Monday, hitting $14.65. The stock had a trading volume of 36,171 shares. Silver Spring Networks has a 12-month low of $9.55 and a 12-month high of $16.18. The company has a 50 day moving average price of $14.01 and a 200 day moving average price of $13.24. The firm has a market cap of $760.25 million, a P/E ratio of 13.91 and a beta of 1.74.

Silver Spring Networks (NYSE:SSNI) last posted its earnings results on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08. The business earned $74.20 million during the quarter, compared to analyst estimates of $75.29 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Equities analysts forecast that Silver Spring Networks will post $0.18 earnings per share for the current fiscal year.

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In other news, General Counsel Richard S. Jr. Arnold sold 8,621 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $14.90, for a total value of $128,452.90. Following the completion of the sale, the general counsel now owns 5,523 shares of the company’s stock, valued at $82,292.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 29.60% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in SSNI. GSA Capital Partners LLP purchased a new stake in shares of Silver Spring Networks during the second quarter valued at about $877,000. California State Teachers Retirement System raised its stake in shares of Silver Spring Networks by 3.0% in the second quarter. California State Teachers Retirement System now owns 79,465 shares of the company’s stock valued at $965,000 after buying an additional 2,309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Silver Spring Networks by 4,419.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,905 shares of the company’s stock valued at $497,000 after buying an additional 40,000 shares in the last quarter. RobecoSam USA Inc. raised its stake in shares of Silver Spring Networks by 2.5% in the second quarter. RobecoSam USA Inc. now owns 35,000 shares of the company’s stock valued at $425,000 after buying an additional 842 shares in the last quarter. Finally, Shinko Asset Management Co. Ltd. raised its stake in shares of Silver Spring Networks by 1.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 24,724 shares of the company’s stock valued at $300,000 after buying an additional 327 shares in the last quarter. Institutional investors and hedge funds own 77.42% of the company’s stock.

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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