Research analysts at Williams Capital initiated coverage on shares of Silver Spring Networks Inc. (NYSE:SSNI) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $18.00 price target on the stock. Williams Capital’s price target indicates a potential upside of 22.78% from the stock’s current price.

SSNI has been the subject of several other reports. Canaccord Genuity set a $13.00 price objective on Silver Spring Networks and gave the stock a “hold” rating in a research note on Saturday, August 6th. FBR & Co initiated coverage on Silver Spring Networks in a research note on Tuesday, November 8th. They set an “outperform” rating and a $17.00 price objective for the company. Pacific Crest reissued a “buy” rating and set a $17.00 price objective on shares of Silver Spring Networks in a research note on Friday, August 5th. Zacks Investment Research lowered Silver Spring Networks from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $17.00 price objective (up from $15.00) on shares of Silver Spring Networks in a research note on Monday, October 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $16.33.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

Shares of Silver Spring Networks (NYSE:SSNI) opened at 14.66 on Monday. The firm’s 50-day moving average price is $14.03 and its 200 day moving average price is $13.26. The firm has a market capitalization of $760.77 million, a price-to-earnings ratio of 13.92 and a beta of 1.74. Silver Spring Networks has a 52 week low of $9.55 and a 52 week high of $16.18.

Silver Spring Networks (NYSE:SSNI) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $74.20 million for the quarter, compared to the consensus estimate of $75.29 million. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. On average, analysts anticipate that Silver Spring Networks will post $0.18 EPS for the current year.

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In other news, General Counsel Richard S. Jr. Arnold sold 8,621 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $14.90, for a total value of $128,452.90. Following the completion of the sale, the general counsel now owns 5,523 shares of the company’s stock, valued at $82,292.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 29.60% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Silver Spring Networks during the second quarter valued at approximately $877,000. California State Teachers Retirement System boosted its stake in shares of Silver Spring Networks by 3.0% in the second quarter. California State Teachers Retirement System now owns 79,465 shares of the company’s stock valued at $965,000 after buying an additional 2,309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Silver Spring Networks by 4,419.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,905 shares of the company’s stock valued at $497,000 after buying an additional 40,000 shares during the period. RobecoSam USA Inc. boosted its stake in shares of Silver Spring Networks by 2.5% in the second quarter. RobecoSam USA Inc. now owns 35,000 shares of the company’s stock valued at $425,000 after buying an additional 842 shares during the period. Finally, Shinko Asset Management Co. Ltd. boosted its stake in shares of Silver Spring Networks by 1.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 24,724 shares of the company’s stock valued at $300,000 after buying an additional 327 shares during the period. 77.42% of the stock is owned by institutional investors and hedge funds.

About Silver Spring Networks

Silver Spring Networks, Inc is engaged in creating, building and deploying 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.

5 Day Chart for NYSE:SSNI

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