Silver Spring Networks, Inc. (NYSE:SSNI) has been assigned a consensus recommendation of “Hold” from the seventeen analysts that are covering the stock, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.16.

Several analysts have recently weighed in on the stock. 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. Oppenheimer Holdings, Inc. set a $14.00 price target on shares of Silver Spring Networks and gave the company a “buy” rating in a research note on Wednesday, August 9th. Canaccord Genuity lifted their price target on shares of Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a research note on Monday, August 14th. Williams Capital lifted their price target 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. Finally, Guggenheim downgraded shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and lifted their price target for the company from $13.00 to $16.00 in a research note on Monday, September 18th.

In other Silver Spring Networks news, insider Raj Vaswani sold 9,611 shares of Silver Spring Networks stock in a transaction 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 directly owns 634,727 shares of the company’s stock, valued at $8,232,409.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald L. Reeves III sold 30,579 shares of Silver Spring Networks stock in a transaction on Monday, September 18th. The stock was sold at an average price of $16.15, for a total transaction of $493,850.85. Following the completion of the transaction, the insider now directly owns 32,260 shares in the company, valued at $520,999. The disclosure for this sale can be found here. Insiders sold 114,644 shares of company stock valued at $1,535,575 in the last three months. 29.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ardsley Advisory Partners grew its holdings in Silver Spring Networks by 232.6% in the second quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock worth $14,264,000 after purchasing an additional 884,000 shares during the last quarter. Robecosam AG grew its holdings in Silver Spring Networks by 10.0% in the second quarter. Robecosam AG now owns 660,000 shares of the technology company’s stock worth $7,432,000 after purchasing an additional 60,000 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Silver Spring Networks by 66.9% in the second quarter. Sterling Capital Management LLC now owns 45,401 shares of the technology company’s stock worth $512,000 after purchasing an additional 18,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Silver Spring Networks in the second quarter worth $350,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Silver Spring Networks by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 33,685 shares of the technology company’s stock worth $380,000 after purchasing an additional 3,412 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Silver Spring Networks (SSNI) opened at 16.15 on Friday. The company’s market cap is $865.07 million. The stock has a 50 day moving average price of $14.20 and a 200 day moving average price of $11.79. Silver Spring Networks has a 12 month low of $9.68 and a 12 month high of $16.24.

Silver Spring Networks (NYSE:SSNI) last posted its quarterly earnings results 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 company had revenue of $261.60 million for the quarter, compared to the consensus estimate of $69.10 million. During the same period in the prior year, the firm posted $0.02 EPS. The business’s revenue was up 114.6% on a year-over-year basis. Analysts anticipate that Silver Spring Networks will post $0.03 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Silver Spring Networks, Inc. (SSNI) Given Average Rating of “Hold” by Analysts” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/08/silver-spring-networks-inc-ssni-given-average-rating-of-hold-by-analysts.html.

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)

Receive News & Stock Ratings for Silver Spring Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Spring Networks Inc. and related stocks with our FREE daily email newsletter.