Silver Spring Networks Coverage Initiated at Northland Securities (SSNI)
Stock analysts at Northland Securities initiated coverage on shares of Silver Spring Networks (NASDAQ:SSNI) in a report issued on Tuesday. The firm set an “outperform” rating and a $12.00 price target on the stock. Northland Securities’ price target suggests a potential upside of 24.10% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Evercore Partners reiterated an “overweight” rating on shares of Silver Spring Networks in a research note on Thursday, August 7th. They now have a $16.00 price target on the stock, down previously from $18.00. Separately, 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, August 7th. 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.63.
Silver Spring Networks (NASDAQ:SSNI) opened at 9.67 on Tuesday. Silver Spring Networks has a one year low of $9.05 and a one year high of $31.85. The stock has a 50-day moving average of $12.02 and a 200-day moving average of $14.34. The company’s market cap is $467.8 million.
Silver Spring Networks (NASDAQ:SSNI) last released its 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. Analysts expect that Silver Spring Networks will post $-0.39 EPS 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.