Silver Spring Networks (NYSE: SSNI) recently received a number of ratings updates from brokerages and research firms:

  • 9/22/2017 – Silver Spring Networks was downgraded by analysts at FBR & Co from a “buy” rating to a “neutral” rating. They now have a $16.00 price target on the stock. They wrote, “Logical tie-up. On September 18, Silver Spring announced that Itron made an all- cash offer of $16.25/share to acquire all the outstanding shares of Silver Spring. Both companies’ boards have approved the deal, so pending shareholder approval and regulatory review, the transaction is expected to close in late 4Q17 or 1Q18. We believe the deal will pass regulatory review if total endpoints (~43% share in the U.S) are not the only consideration. Overall we believe combining Silver Spring’s standards-based, open networking platform and Itron’s smart meter portfolio and solutions should result in a stronger combined company. We do not believe a competing bidder will emerge and expect the deal to receive shareholder approval as at least one VC appeared in favor of the deal. While some investors have communicated to us that Silver Spring, perhaps, could have held out for another $1 to $2/share, the deal was at a ~25% premium to Silver Spring’s price prior to the announcement.””
  • 9/22/2017 – Silver Spring Networks was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/20/2017 – Silver Spring Networks was downgraded by analysts at Raymond James Financial, Inc. from a “strong-buy” rating to a “mkt perform” rating.
  • 9/19/2017 – Silver Spring Networks had its “market perform” rating reaffirmed by analysts at Raymond James Financial, Inc.. They now have a $16.25 price target on the stock.
  • 9/19/2017 – Silver Spring Networks was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating.
  • 9/19/2017 – Silver Spring Networks had its price target raised by analysts at Canaccord Genuity from $11.50 to $16.25. They now have a “hold” rating on the stock.
  • 9/19/2017 – Silver Spring Networks was downgraded by analysts at JMP Securities to a “market perform” rating.
  • 9/18/2017 – Silver Spring Networks was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating. They now have a $16.00 price target on the stock, up previously from $13.00.
  • 9/18/2017 – Silver Spring Networks had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $14.00 price target on the stock.
  • 9/18/2017 – Silver Spring Networks was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 9/12/2017 – Silver Spring Networks had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $16.00 price target on the stock.
  • 9/11/2017 – Silver Spring Networks had its “buy” rating reaffirmed by analysts at FBR & Co.
  • 9/8/2017 – Silver Spring Networks had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $11.00 price target on the stock, up previously from $9.00.
  • 8/14/2017 – Silver Spring Networks had its price target raised by analysts at Canaccord Genuity from $10.50 to $11.50. They now have a “hold” rating on the stock.
  • 8/10/2017 – Silver Spring Networks had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $16.00 price target on the stock, down previously from $17.00.
  • 8/9/2017 – Silver Spring Networks was given a new $14.00 price target on by analysts at Oppenheimer Holdings, Inc.. They now have a “buy” rating on the stock.
  • 8/9/2017 – Silver Spring Networks had its price target raised by analysts at Williams Capital from $11.00 to $12.00. They now have a “hold” rating on the stock.

Shares of Silver Spring Networks, Inc. (NYSE:SSNI) opened at 16.22 on Friday. Silver Spring Networks, Inc. has a 52 week low of $9.68 and a 52 week high of $16.24. The stock’s 50 day moving average price is $14.10 and its 200 day moving average price is $11.75. The stock’s market cap is $868.82 million.

Silver Spring Networks (NYSE:SSNI) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.41. The company had revenue of $261.60 million during the quarter, compared to the consensus estimate of $69.10 million. The company’s revenue was up 114.6% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. Equities research analysts anticipate that Silver Spring Networks, Inc. will post $0.03 EPS for the current fiscal year.

In other news, insider Raj Vaswani sold 9,611 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $12.97, for a total value of $124,654.67. Following the completion of the transaction, the insider now directly owns 634,727 shares in the company, valued at $8,232,409.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald L. Reeves III sold 30,579 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.15, for a total transaction of $493,850.85. Following the completion of the transaction, the insider now owns 32,260 shares of the company’s stock, valued at $520,999. The disclosure for this sale can be found here. Insiders sold 114,644 shares of company stock valued at $1,535,575 over the last quarter. Insiders own 29.60% of the company’s stock.

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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