Silver Spring Networks, Inc. (SSNI) to Release Earnings on Wednesday
Silver Spring Networks, Inc. (NYSE:SSNI) is set to release its earnings data after the market closes on Wednesday, November 1st. Analysts expect Silver Spring Networks to post earnings of $0.01 per share for the quarter.
Silver Spring Networks (NYSE:SSNI) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.34 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.41. The company had revenue of $261.60 million for the quarter, compared to analyst estimates of $69.10 million. The business’s revenue for the quarter was up 114.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, analysts expect Silver Spring Networks to post $-0.44 EPS for the current fiscal year and $-0.16 EPS for the next fiscal year.
Silver Spring Networks, Inc. (NYSE SSNI) opened at 16.14 on Wednesday. Silver Spring Networks, Inc. has a 12 month low of $9.68 and a 12 month high of $16.24. The company’s 50-day moving average is $15.33 and its 200 day moving average is $12.26. The company’s market cap is $864.54 million.
In related news, insider Raj Vaswani sold 15,687 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $12.89, for a total value of $202,205.43. Following the sale, the insider now owns 648,724 shares in the company, valued at approximately $8,362,052.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald L. Reeves III sold 30,579 shares of the 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 completion of the sale, the insider now owns 32,260 shares in the company, valued at approximately $520,999. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,645 shares of company stock worth $1,617,370. 29.60% of the stock is owned by company insiders.
Several equities research analysts have recently commented on SSNI shares. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $14.00 price objective on shares of Silver Spring Networks in a report on Monday, September 18th. Cowen and Company reissued a “buy” rating and issued 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. Zacks Investment Research raised Silver Spring Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Canaccord Genuity increased their price objective on Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.95.
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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