Zacks: SilverSun Technologies Inc (SSNT) Receives Average Rating of “Strong Buy” from Brokerages

SilverSun Technologies Inc (NASDAQ:SSNT) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price target of $7.00 for the company and are predicting that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also given SilverSun Technologies an industry rank of 164 out of 255 based on the ratings given to related companies.

Separately, Westpark Capital set a $7.00 price target on shares of SilverSun Technologies and gave the stock a “buy” rating in a report on Friday, August 24th.

In related news, major shareholder Jeffrey D. Roth sold 11,200 shares of the firm’s stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $3.75, for a total transaction of $42,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 47.08% of the company’s stock.

NASDAQ SSNT opened at $3.67 on Thursday. The firm has a market capitalization of $17.65 million, a price-to-earnings ratio of 30.58 and a beta of 0.23. SilverSun Technologies has a 12-month low of $2.90 and a 12-month high of $4.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.82 and a quick ratio of 0.82.

SilverSun Technologies (NASDAQ:SSNT) last posted its quarterly earnings results on Monday, August 13th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.07). The company had revenue of $9.68 million during the quarter, compared to analysts’ expectations of $9.60 million. SilverSun Technologies had a positive return on equity of 7.97% and a negative net margin of 1.84%. As a group, equities analysts anticipate that SilverSun Technologies will post 0.24 earnings per share for the current year.

SilverSun Technologies Company Profile

SilverSun Technologies, Inc operates as a business application, technology, and consulting company. The company resells enterprise resource planning software for the financial accounting requirements, as well as offers associated training, technical support, and professional services. The company also publishes and markets MAPADOC, an electronic data interchange software through a network of resellers.

Further Reading: How to calculate the intrinsic value of a stock

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