Equities analysts expect that Silver Spring Networks, Inc. (NYSE:SSNI) will report sales of $69.11 million for the current quarter, Zacks Investment Research reports. Four 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 in the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The company is expected to announce its next earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that Silver Spring Networks will report full-year sales of $69.11 million for the current fiscal year, with estimates ranging from $299.00 million to $307.50 million. For the next year, analysts expect that the business will report sales of $337.33 million per share, with estimates ranging from $327.93 million to $356.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Silver Spring Networks.

Several analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Silver Spring Networks in a research report on Tuesday, June 20th. They set a “buy” rating and a $13.00 price target for the company. Cowen and Company set a $17.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a research note on Wednesday, May 10th. Oppenheimer Holdings, Inc. set a $17.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a research note 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 research note on Saturday, May 13th. Finally, Benchmark Co. began coverage on shares of Silver Spring Networks in a research note on Tuesday, April 25th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.42.

Silver Spring Networks (NYSE SSNI) traded down 0.38% during midday trading on Friday, hitting $10.50. The company had a trading volume of 133,225 shares. The firm’s market capitalization is $558.31 million. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $15.40. The firm’s 50 day moving average is $10.47 and its 200-day moving average is $11.74.

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In other Silver Spring Networks news, insider Raj Vaswani sold 29,826 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $9.87, for a total transaction of $294,382.62. Following the completion of the transaction, the insider now owns 611,947 shares of the company’s stock, valued at $6,039,916.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 64,462 shares of company stock valued at $653,702 in the last ninety days. Insiders own 29.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in SSNI. Stoneridge Investment Partners LLC acquired a new position in shares of Silver Spring Networks during the first quarter worth $1,313,000. Wells Fargo & Company MN increased its position in shares of Silver Spring Networks by 71.9% in the first quarter. Wells Fargo & Company MN now owns 206,135 shares of the technology company’s stock worth $2,327,000 after buying an additional 86,197 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Silver Spring Networks by 12.2% in the first quarter. Russell Investments Group Ltd. now owns 34,900 shares of the technology company’s stock worth $394,000 after buying an additional 3,800 shares in the last quarter. Paragon Capital Management Ltd acquired a new position in shares of Silver Spring Networks during the first quarter worth $574,000. Finally, Nationwide Fund Advisors increased its position in shares of Silver Spring Networks by 23.4% in the first quarter. Nationwide Fund Advisors now owns 32,120 shares of the technology company’s stock worth $363,000 after buying an additional 6,097 shares in the last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

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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