Silver Spring Networks, Inc. (NYSE:SSNI) has earned an average rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.83.

Several brokerages recently issued reports on SSNI. Cowen and Company restated a “buy” rating and set a $16.00 target price on shares of Silver Spring Networks in a research report on Tuesday. FBR & Co reaffirmed a “buy” rating on shares of Silver Spring Networks in a report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $11.00 price target (up previously from $9.00) on shares of Silver Spring Networks in a report on Friday, September 8th. Canaccord Genuity lifted their price target on shares of Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a report on Monday, August 14th. Finally, Williams Capital lifted their price target on shares of Silver Spring Networks from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, August 9th.

Shares of Silver Spring Networks (NYSE:SSNI) opened at 12.99 on Wednesday. The company’s 50 day moving average is $12.22 and its 200-day moving average is $11.24. The stock’s market capitalization is $695.81 million. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $15.40.

Silver Spring Networks (NYSE:SSNI) last announced its earnings results 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 business had revenue of $261.60 million for the quarter, compared to the consensus estimate of $69.10 million. The business’s quarterly revenue was up 114.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. On average, equities analysts predict that Silver Spring Networks will post $0.03 earnings per share for the current year.

In other news, insider Raj Vaswani sold 9,611 shares of the business’s stock in a transaction 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 transaction, the insider now owns 634,727 shares of the company’s stock, valued at $8,232,409.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 84,065 shares of company stock worth $1,041,724 in the last three months. Insiders own 29.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Robecosam AG lifted its holdings in shares of Silver Spring Networks by 10.0% in the second quarter. Robecosam AG now owns 660,000 shares of the technology company’s stock worth $7,432,000 after buying an additional 60,000 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Silver Spring Networks by 66.9% in the second quarter. Sterling Capital Management LLC now owns 45,401 shares of the technology company’s stock worth $512,000 after buying an additional 18,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Silver Spring Networks in the second quarter worth $350,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Silver Spring Networks by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 33,685 shares of the technology company’s stock worth $380,000 after buying an additional 3,412 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Silver Spring Networks by 7.4% in the second quarter. State Street Corp now owns 743,281 shares of the technology company’s stock worth $8,384,000 after buying an additional 51,026 shares in the last quarter. 79.50% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Silver Spring Networks, Inc. (SSNI) Given Consensus Recommendation of “Hold” by Analysts” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://www.dailypolitical.com/2017/09/13/silver-spring-networks-inc-ssni-given-consensus-recommendation-of-hold-by-analysts.html.

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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

Receive News & Ratings for Silver Spring Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Spring Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.