Silver Spring Networks, Inc. (NYSE:SSNI)‘s stock had its “market perform” rating reaffirmed by equities researchers at Raymond James Financial, Inc. in a research note issued on Tuesday. They presently have a $16.25 price objective on the technology company’s stock. Raymond James Financial, Inc.’s price objective would suggest a potential upside of 0.68% from the company’s previous close.

A number of other research firms have also recently weighed in on SSNI. ValuEngine raised Silver Spring Networks from a “sell” rating to a “hold” rating in a research report on Monday. Cowen and Company reissued an “outperform” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Silver Spring Networks in a research report on Thursday, August 10th. Guggenheim cut Silver Spring Networks from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $13.00 to $16.00 in a research report on Monday. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $14.00 price objective on shares of Silver Spring Networks in a research report on Monday. Finally, Canaccord Genuity raised their price objective on Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Silver Spring Networks has an average rating of “Hold” and a consensus target price of $15.04.

Silver Spring Networks (NYSE:SSNI) opened at 16.14 on Tuesday. The stock’s market cap is $864.54 million. The stock has a 50 day moving average price of $12.71 and a 200 day moving average price of $11.31. Silver Spring Networks has a 1-year low of $9.68 and a 1-year high of $16.18.

Silver Spring Networks (NYSE:SSNI) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ 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. The firm’s revenue for the quarter was up 114.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. On average, analysts predict that Silver Spring Networks will post $0.03 EPS for the current fiscal year.

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In other Silver Spring Networks news, insider Donald L. Reeves III sold 30,579 shares of Silver Spring Networks stock in a transaction dated 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 owns 32,260 shares in the company, valued at approximately $520,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raj Vaswani sold 9,611 shares of Silver Spring Networks stock in a transaction dated 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 of the company’s stock, valued at approximately $8,232,409.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,644 shares of company stock valued at $1,535,575. 29.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSNI. Teachers Advisors LLC raised its stake in shares of Silver Spring Networks by 2.3% during the 4th quarter. Teachers Advisors LLC now owns 60,680 shares of the technology company’s stock valued at $808,000 after buying an additional 1,380 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Silver Spring Networks by 23.4% during the 1st quarter. Nationwide Fund Advisors now owns 32,120 shares of the technology company’s stock valued at $363,000 after buying an additional 6,097 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Silver Spring Networks by 12.2% during the 1st quarter. Russell Investments Group Ltd. now owns 34,900 shares of the technology company’s stock valued at $394,000 after buying an additional 3,800 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Silver Spring Networks by 71.9% during the 1st quarter. Wells Fargo & Company MN now owns 206,135 shares of the technology company’s stock valued at $2,327,000 after buying an additional 86,197 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Silver Spring Networks by 10.5% during the 1st quarter. First Trust Advisors LP now owns 108,378 shares of the technology company’s stock valued at $1,224,000 after buying an additional 10,329 shares during the last quarter. Institutional investors and hedge funds own 78.30% 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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