Silver Spring Networks Stock Rating Reaffirmed by Evercore Partners (SSNI)
Silver Spring Networks (NASDAQ:SSNI)‘s stock had its “overweight” rating restated by analysts at Evercore Partners in a research report issued to clients and investors on Thursday. They currently have a $16.00 target price on the stock, down from their previous target price of $18.00. Evercore Partners’ price objective would indicate a potential upside of 43.88% 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 announced its earnings results on Wednesday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray cut their price target on shares of Silver Spring Networks from $14.00 to $12.00 in a research note on Thursday. Separately, 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. Finally, 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Silver Spring Networks currently has an average rating of “Buy” and an average target price 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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