Silver Spring Networks Given New $17.00 Price Target at Robert W. Baird (SSNI)
Equities researchers at Robert W. Baird cut their price objective on shares of Silver Spring Networks (NASDAQ:SSNI) from $32.00 to $17.00 in a research report issued on Friday, AmericanBankingNews.com reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential downside of 27.66% from the company’s current price.
Silver Spring Networks (NASDAQ:SSNI) opened at 23.50 on Friday. Silver Spring Networks has a 52-week low of $14.63 and a 52-week high of $33.82. The stock has a 50-day moving average of $21.08 and a 200-day moving average of $21.02. The company’s market cap is $1.108 billion.
Silver Spring Networks (NASDAQ:SSNI) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.13. The company had revenue of $94.20 million for the quarter, compared to the consensus estimate of $92.47 million. Silver Spring Networks’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Silver Spring Networks will post $0.14 earnings per share for the current fiscal year.
Separately, analysts at Piper Jaffray cut their price target on shares of Silver Spring Networks from $26.00 to $20.00 in a research note to investors on Thursday, October 31st. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Silver Spring Networks has a consensus rating of “Hold” and an average price target of $21.50.
Silver Spring Networks, Inc, provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
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