Silver Spring Networks, Inc. (NYSE:SSNI) has received an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.83.

Several equities research analysts recently weighed in on the company. Cowen and Company reissued a “buy” rating and issued a $16.00 price objective on shares of Silver Spring Networks in a report on Tuesday. FBR & Co reissued a “buy” rating on shares of Silver Spring Networks in a report on Monday, September 11th. Robert W. Baird reissued a “neutral” rating and issued a $11.00 price objective (up previously from $9.00) on shares of Silver Spring Networks in a report on Friday, September 8th. Canaccord Genuity lifted their price objective on Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a report on Monday, August 14th. Finally, Williams Capital lifted their price objective on Silver Spring Networks from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th.

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Silver Spring Networks (NYSE SSNI) traded up 0.78% during trading on Wednesday, hitting $13.00. 554,468 shares of the company traded hands. Silver Spring Networks has a 12-month low of $9.68 and a 12-month high of $15.40. The company’s market capitalization is $696.35 million. The stock has a 50 day moving average price of $12.43 and a 200 day moving average price of $11.26.

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

In other news, insider Raj Vaswani sold 9,611 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was 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 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 the SEC website. 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.

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Silver Spring Networks by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock worth $117,000 after buying an additional 1,005 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Silver Spring Networks in the 2nd quarter worth approximately $117,000. Stifel Financial Corp lifted its position in Silver Spring Networks by 19.3% in the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock worth $162,000 after buying an additional 2,285 shares during the last quarter. Trexquant Investment LP bought a new stake in Silver Spring Networks in the 2nd quarter worth approximately $171,000. Finally, Global X Management Co. LLC lifted its position in Silver Spring Networks by 403.2% in the 1st quarter. Global X Management Co. LLC now owns 15,810 shares of the technology company’s stock worth $178,000 after buying an additional 12,668 shares during the last quarter. 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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