Silver Spring Networks, Inc. (NYSE:SSNI)‘s stock had its “neutral” rating restated by stock analysts at Robert W. Baird in a report released on Friday. They currently have a $11.00 target price on the technology company’s stock, up from their previous target price of $9.00. Robert W. Baird’s price objective would suggest a potential downside of 13.04% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity increased their price objective on shares of Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a report on Monday, August 14th. Cowen and Company reaffirmed an “outperform” rating and issued a $16.00 target price (down previously from $17.00) on shares of Silver Spring Networks in a research note on Thursday, August 10th. Williams Capital upped their target price on shares of Silver Spring Networks from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. set a $14.00 target price on shares of Silver Spring Networks and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Silver Spring Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.23.

Silver Spring Networks (NYSE SSNI) opened at 12.65 on Friday. Silver Spring Networks has a 52-week low of $9.68 and a 52-week high of $15.40. The firm’s market cap is $677.60 million. The firm has a 50-day moving average of $12.16 and a 200 day moving average of $11.26.

Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.41. The business had revenue of $261.60 million during the quarter, compared to analyst estimates of $69.10 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. The company’s quarterly revenue was up 114.6% on a year-over-year basis. On average, equities research analysts forecast that Silver Spring Networks will post $0.03 earnings per share for the current year.

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In other news, insider Raj Vaswani sold 9,611 shares of the 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 sale, the insider now owns 634,727 shares of the company’s stock, valued at $8,232,409.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 84,065 shares of company stock valued at $1,041,724 in the last three months. 29.60% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of SSNI. Teachers Advisors LLC increased its position in shares of Silver Spring Networks by 2.3% during the fourth 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 increased its position in shares of Silver Spring Networks by 23.4% during the first 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. increased its position in shares of Silver Spring Networks by 12.2% during the first 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 increased its position in shares of Silver Spring Networks by 71.9% during the first 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 increased its position in shares of Silver Spring Networks by 10.5% during the first 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. 79.50% of the stock is owned by institutional investors.

About Silver Spring Networks

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)

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