Silver Spring Networks, Inc. (NYSE:SSNI) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.85.

A number of analysts recently issued reports on the company. Cowen and Company reissued an “outperform” rating and set a $16.00 price objective (down previously from $17.00) on shares of Silver Spring Networks in a report on Thursday, August 10th. Canaccord Genuity increased their price objective on Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a report on Monday, August 14th. Pacific Crest cut Silver Spring Networks from an “overweight” rating to a “sector weight” rating in a report on Wednesday, May 10th. Benchmark Co. assumed coverage on Silver Spring Networks in a report on Tuesday, April 25th. They set a “hold” rating on the stock. Finally, Oppenheimer Holdings, Inc. set a $14.00 price objective on Silver Spring Networks and gave the stock a “buy” rating in a report on Wednesday, August 9th.

In other news, insider Raj Vaswani sold 20,364 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $10.30, for a total transaction of $209,749.20. Following the transaction, the insider now directly owns 602,355 shares in the company, valued at approximately $6,204,256.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 76,163 shares of company stock worth $895,322 over the last 90 days. Corporate insiders own 29.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in SSNI. Legal & General Group Plc raised its position in shares of Silver Spring Networks by 10.8% in the second quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock valued at $117,000 after buying an additional 1,005 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Silver Spring Networks during the second quarter valued at approximately $117,000. Stifel Financial Corp raised its position in shares of Silver Spring Networks by 19.3% in the second quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after buying an additional 2,285 shares during the period. Trexquant Investment LP purchased a new position in shares of Silver Spring Networks during the second quarter valued at approximately $171,000. Finally, Global X Management Co. LLC raised its position 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 valued at $178,000 after buying an additional 12,668 shares during the period. Hedge funds and other institutional investors own 75.73% of the company’s stock.

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Shares of Silver Spring Networks (SSNI) opened at 12.68 on Friday. The company’s 50-day moving average price is $11.40 and its 200-day moving average price is $11.31. The company’s market capitalization is $679.20 million. Silver Spring Networks has a 1-year low of $9.68 and a 1-year high of $15.40.

Silver Spring Networks (NYSE:SSNI) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.41. The company had revenue of $261.60 million for the quarter, compared to analysts’ expectations of $69.10 million. The business’s revenue for the quarter was up 114.6% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. On average, equities analysts expect that Silver Spring Networks will post $0.01 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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