Evercore Partners Lowers Silver Spring Networks Price Target to $18.00 (SSNI)
Analysts at Evercore Partners cut their target price on shares of Silver Spring Networks (NASDAQ:SSNI) from $20.00 to $18.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings Network reports. The firm currently has an “overweight” rating on the stock. Evercore Partners’ price target suggests a potential upside of 64.08% from the company’s current price.
Silver Spring Networks (NASDAQ:SSNI) opened at 10.97 on Wednesday. Silver Spring Networks has a one year low of $9.75 and a one year high of $33.82. The stock’s 50-day moving average is $15.34 and its 200-day moving average is $18.06. The company’s market cap is $528.7 million.
Silver Spring Networks (NASDAQ:SSNI) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.20) by $0.01. The company had revenue of $71.80 million for the quarter, compared to the consensus estimate of $67.53 million. During the same quarter in the prior year, the company posted ($0.80) earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Silver Spring Networks will post $-0.29 earnings per share for the current fiscal year.
SSNI has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Silver Spring Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $14.90 price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Silver Spring Networks from $23.00 to $25.00 in a research note on Wednesday, March 12th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Silver Spring Networks in a research note on Wednesday, February 12th. They now have a $18.00 price target on the stock, down previously from $20.00. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.61.
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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