Silver Spring Networks Receives Consensus Rating of “Buy” from Analysts (NASDAQ:SSNI)
Silver Spring Networks (NASDAQ:SSNI) has earned a consensus rating of “Buy” from the eight brokerages that are covering the company, AnalystRatings.Net reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.63.
A number of analysts have recently weighed in on SSNI shares. Analysts at Northland Securities initiated coverage on shares of Silver Spring Networks in a research note on Tuesday, August 12th. They set an “outperform” rating and a $12.00 price target on the stock. Separately, 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. Finally, 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.
Shares of Silver Spring Networks (NASDAQ:SSNI) opened at 10.33 on Thursday. Silver Spring Networks has a one year low of $9.05 and a one year high of $23.61. The stock has a 50-day moving average of $10.65 and a 200-day moving average of $13.6. The company’s market cap is $499.9 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 $-0.36 earnings per share 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.
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