Wall Street analysts expect Silver Spring Networks, Inc. (NYSE:SSNI) to report sales of $69.29 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Silver Spring Networks’ earnings, with estimates ranging from $67.30 million to $70.00 million. Silver Spring Networks posted sales of $71.85 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.6%. The company is scheduled to report its next earnings report on Thursday, August 3rd.

On average, analysts expect that Silver Spring Networks will report full year sales of $69.29 million for the current fiscal year, with estimates ranging from $299.00 million to $307.50 million. For the next financial year, analysts anticipate that the firm will post sales of $335.87 million per share, with estimates ranging from $327.93 million to $356.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Silver Spring Networks.

A number of research analysts recently issued reports on the stock. Oppenheimer Holdings, Inc. set a $17.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a report on Saturday, April 1st. FBR & Co set a $16.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a report on Saturday, May 13th. Robert W. Baird restated a “neutral” rating and set a $9.00 price objective (down previously from $11.00) on shares of Silver Spring Networks in a report on Thursday, May 11th. Pacific Crest cut shares of Silver Spring Networks from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 10th. Finally, CIBC decreased their price objective on shares of Silver Spring Networks from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $14.54.

In other Silver Spring Networks news, insider Raj Vaswani sold 25,778 shares of Silver Spring Networks stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $10.91, for a total value of $281,237.98. Following the transaction, the insider now owns 607,899 shares of the company’s stock, valued at $6,632,178.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 75,968 shares of company stock worth $785,370. Insiders own 29.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Boothbay Fund Management LLC acquired a new stake in shares of Silver Spring Networks during the fourth quarter worth approximately $186,000. Global X Management Co. LLC raised its stake in shares of Silver Spring Networks by 403.2% in the first quarter. Global X Management Co. LLC now owns 15,810 shares of the technology company’s stock worth $178,000 after buying an additional 12,668 shares in the last quarter. Ellington Management Group LLC raised its stake in shares of Silver Spring Networks by 28.6% in the fourth quarter. Ellington Management Group LLC now owns 17,100 shares of the technology company’s stock worth $228,000 after buying an additional 3,800 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Silver Spring Networks during the fourth quarter worth approximately $257,000. Finally, US Bancorp DE raised its stake in shares of Silver Spring Networks by 46.7% in the first quarter. US Bancorp DE now owns 19,576 shares of the technology company’s stock worth $221,000 after buying an additional 6,235 shares in the last quarter. 75.57% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Silver Spring Networks (SSNI) traded up 3.55% during midday trading on Thursday, hitting $11.66. 174,790 shares of the company traded hands. The stock’s 50-day moving average is $10.47 and its 200 day moving average is $11.81. The stock’s market capitalization is $619.99 million. Silver Spring Networks has a 12-month low of $9.68 and a 12-month high of $15.40.

Silver Spring Networks Company Profile

Silver Spring Networks, Inc is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.

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