Silver Spring Networks PT Lowered to $12.00 (SSNI)
Equities research analysts at Piper Jaffray decreased their price target on shares of Silver Spring Networks (NASDAQ:SSNI) from $14.00 to $12.00 in a research note issued to investors on Thursday. Piper Jaffray’s price objective would suggest a potential upside of 7.91% from the stock’s previous close.
Shares of Silver Spring Networks (NASDAQ:SSNI) opened at 11.12 on Thursday. Silver Spring Networks has a 52 week low of $9.75 and a 52 week high of $31.85. The stock’s 50-day moving average is $12.3 and its 200-day moving average is $14.49. The company’s market cap is $536.9 million.
Silver Spring Networks (NASDAQ:SSNI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.23) by $0.03. The company had revenue of $63.60 million for the quarter, compared to the consensus estimate of $61.94 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down 26.5% 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.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Silver Spring Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $13.30 price target on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Silver Spring Networks in a research note on Wednesday, May 28th. They set a “buy” rating and a $16.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $15.79.
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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