Silver Spring Networks Given New $20.00 Price Target at Canaccord Genuity (SSNI)
Investment analysts at Canaccord Genuity lowered their price objective on shares of Silver Spring Networks (NASDAQ:SSNI) from $25.00 to $20.00 in a note issued to investors on Friday, American Banking News.com reports. Canaccord Genuity’s price objective suggests a potential downside of 14.89% from the stock’s previous close.
A number of other analysts have also recently weighed in on SSNI. Analysts at Robert W. Baird cut their price target on shares of Silver Spring Networks from $32.00 to $17.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Silver Spring Networks has a consensus rating of “Hold” and an average target price of $21.50.
Shares of Silver Spring Networks (NASDAQ:SSNI) opened at 23.50 on Friday. Silver Spring Networks has a one year low of $14.63 and a one year high of $33.82. The stock’s 50-day moving average is $21.08 and its 200-day moving average is $21.02. The company’s market cap is $1.108 billion.
Silver Spring Networks (NASDAQ:SSNI) last released its earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Silver Spring Networks will post $0.14 earnings per share for the current fiscal year.
Silver Spring Networks, Inc, provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.