Silver Spring Networks, Inc. (NYSE:SSNI)‘s stock had its “neutral” rating restated by research analysts at Robert W. Baird in a note issued to investors on Friday. They currently have a $11.00 price objective on the technology company’s stock, up from their prior price objective of $9.00. Robert W. Baird’s target price points to a potential downside of 13.04% from the company’s current price.

A number of other analysts have also recently commented on SSNI. Oppenheimer Holdings Inc. set a $14.00 price target on shares of Silver Spring Networks and gave the company a “buy” rating in a research note on Wednesday, August 9th. Canaccord Genuity increased their price target on shares of Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Silver Spring Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub cut shares of Silver Spring Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, CIBC cut their price target on shares of Silver Spring Networks from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.23.

Silver Spring Networks (NYSE SSNI) traded down 0.71% on Friday, reaching $12.65. 217,847 shares of the company’s stock were exchanged. The firm’s market cap is $677.60 million. Silver Spring Networks has a 12 month low of $9.68 and a 12 month high of $15.40. The firm’s 50-day moving average is $12.11 and its 200-day moving average is $11.25.

Silver Spring Networks (NYSE:SSNI) last released its earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.41. The business had revenue of $261.60 million during the quarter, compared to the consensus estimate of $69.10 million. The firm’s revenue for the quarter was up 114.6% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. On average, equities analysts forecast that Silver Spring Networks will post $0.03 earnings per share for the current year.

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In other news, insider Raj Vaswani sold 13,994 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $12.60, for a total transaction of $176,324.40. Following the completion of the sale, the insider now owns 647,031 shares in the company, valued at approximately $8,152,590.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 84,065 shares of company stock valued at $1,041,724. 29.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in shares of Silver Spring Networks by 10.8% during the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock worth $117,000 after buying an additional 1,005 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Silver Spring Networks during the 2nd quarter worth about $117,000. Harbourvest Partners LLC acquired a new stake in shares of Silver Spring Networks during the 4th quarter worth about $137,000. Franklin Street Advisors Inc. NC acquired a new stake in shares of Silver Spring Networks during the 2nd quarter worth about $141,000. Finally, Stifel Financial Corp lifted its stake in shares of Silver Spring Networks by 19.3% during the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock worth $162,000 after buying an additional 2,285 shares during the last quarter. Institutional investors own 79.50% of the company’s stock.

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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