Cowen and Company reissued their buy rating on shares of Silver Spring Networks, Inc. (NYSE:SSNI) in a research report sent to investors on Tuesday. Cowen and Company currently has a $16.00 price target on the technology company’s stock.

A number of other brokerages have also weighed in on SSNI. Canaccord Genuity upped their price target on shares of Silver Spring Networks from $10.50 to $11.50 and gave the stock a hold rating in a research note on Monday, August 14th. FBR & Co reaffirmed a buy rating on shares of Silver Spring Networks in a research note on Monday, September 11th. Robert W. Baird reaffirmed a neutral rating and issued a $11.00 price target (up from $9.00) on shares of Silver Spring Networks in a research note on Friday, September 8th. Williams Capital upped their price target on shares of Silver Spring Networks from $11.00 to $12.00 and gave the stock a hold rating in a research note on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. set a $14.00 price target on shares of Silver Spring Networks and gave the stock a buy rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $14.23.

Silver Spring Networks (NYSE SSNI) opened at 13.00 on Tuesday. The firm has a 50-day moving average of $12.43 and a 200-day moving average of $11.26. The stock’s market capitalization is $696.35 million. Silver Spring Networks has a one year low of $9.68 and a one year high of $15.40.

Silver Spring Networks (NYSE:SSNI) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.41. The company had revenue of $261.60 million during the quarter, compared to analyst estimates of $69.10 million. The company’s revenue was up 114.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. 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 Silver Spring Networks news, insider Raj Vaswani sold 9,611 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $12.97, for a total value of $124,654.67. Following the transaction, the insider now owns 634,727 shares in the company, valued at approximately $8,232,409.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 84,065 shares of company stock worth $1,041,724 in the last 90 days. 29.60% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Robecosam AG increased its stake in Silver Spring Networks by 10.0% in the 2nd quarter. Robecosam AG now owns 660,000 shares of the technology company’s stock valued at $7,432,000 after buying an additional 60,000 shares during the period. Sterling Capital Management LLC increased its stake in Silver Spring Networks by 66.9% in the 2nd quarter. Sterling Capital Management LLC now owns 45,401 shares of the technology company’s stock valued at $512,000 after buying an additional 18,200 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Silver Spring Networks in the 2nd quarter valued at approximately $350,000. The Manufacturers Life Insurance Company increased its stake in Silver Spring Networks by 11.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,685 shares of the technology company’s stock valued at $380,000 after buying an additional 3,412 shares during the period. Finally, State Street Corp increased its stake in Silver Spring Networks by 7.4% in the 2nd quarter. State Street Corp now owns 743,281 shares of the technology company’s stock valued at $8,384,000 after buying an additional 51,026 shares during the period. Hedge funds and other institutional investors own 79.50% of the company’s stock.

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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