Silver Spring Networks, Inc. (NYSE:SSNI) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Monday.

Other equities analysts have also issued reports about the stock. Cowen and Company reissued a “buy” rating and set a $16.00 price objective on shares of Silver Spring Networks in a report on Tuesday, September 12th. FBR & Co reissued a “buy” rating on shares of Silver Spring Networks in a report on Monday, September 11th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $14.00 price objective on shares of Silver Spring Networks in a report on Monday, September 18th. Guggenheim initiated coverage on shares of Silver Spring Networks in a report on Tuesday, June 20th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Silver Spring Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Silver Spring Networks has an average rating of “Hold” and an average target price of $15.04.

Shares of Silver Spring Networks (NYSE SSNI) traded up 0.19% during mid-day trading on Monday, hitting $16.18. The stock had a trading volume of 1,443,706 shares. The stock’s market cap is $866.68 million. Silver Spring Networks has a 52-week low of $9.68 and a 52-week high of $16.19. The company’s 50 day moving average is $12.71 and its 200-day moving average is $11.31.

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, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.41. The business had revenue of $261.60 million for the quarter, compared to analysts’ expectations of $69.10 million. The business’s quarterly revenue was up 114.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. On average, equities research analysts anticipate that Silver Spring Networks will post $0.03 earnings per share for the current fiscal year.

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In other Silver Spring Networks news, insider Donald L. Reeves III sold 30,579 shares of Silver Spring Networks stock in a transaction on Monday, September 18th. The shares were sold at an average price of $16.15, for a total value of $493,850.85. Following the transaction, the insider now directly owns 32,260 shares of the company’s stock, valued at $520,999. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raj Vaswani sold 14,272 shares of Silver Spring Networks stock in a transaction on Monday, July 10th. The stock was sold at an average price of $10.48, for a total transaction of $149,570.56. Following the completion of the transaction, the insider now directly owns 596,393 shares in the company, valued at $6,250,198.64. The disclosure for this sale can be found here. Insiders sold 114,644 shares of company stock worth $1,535,575 over the last ninety days. Corporate insiders own 29.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Delta Lloyd Asset Management N.V. acquired a new stake in shares of Silver Spring Networks during the second quarter worth $3,158,000. Ameriprise Financial Inc. lifted its stake in shares of Silver Spring Networks by 16.3% during the first quarter. Ameriprise Financial Inc. now owns 381,629 shares of the technology company’s stock worth $4,309,000 after buying an additional 53,430 shares during the period. Teachers Advisors LLC lifted its stake in shares of Silver Spring Networks by 2.3% during the fourth quarter. Teachers Advisors LLC now owns 60,680 shares of the technology company’s stock worth $808,000 after buying an additional 1,380 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Silver Spring Networks by 7.3% during the second quarter. Neuberger Berman Group LLC now owns 2,892,353 shares of the technology company’s stock worth $32,626,000 after buying an additional 197,957 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Silver Spring Networks by 231.3% during the first quarter. Goldman Sachs Group Inc. now owns 70,302 shares of the technology company’s stock worth $794,000 after buying an additional 49,080 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

About Silver Spring Networks

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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