Silver Spring Networks Given New $20.00 Price Target at Evercore Partners (SSNI)
Investment analysts at Evercore Partners reduced their target price on shares of Silver Spring Networks (NASDAQ:SSNI) from $28.00 to $20.00 in a note issued to investors on Friday, StockRatingsNetwork reports. Evercore Partners’ price objective points to a potential downside of 14.89% from the company’s current price.
Silver Spring Networks (NASDAQ:SSNI) opened at 23.50 on Friday. Silver Spring Networks has a 1-year low of $14.63 and a 1-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 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. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Silver Spring Networks will post $0.14 EPS for the current fiscal year.
A number of other firms have also recently commented on SSNI. Analysts at Canaccord Genuity cut their price target on shares of Silver Spring Networks from $25.00 to $20.00 in a research note to investors on Friday. Separately, 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. Finally, 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 issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price 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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