ValuEngine upgraded shares of Silver Spring Networks, Inc. (NYSE:SSNI) from a sell rating to a hold rating in a research note released on Monday morning.

SSNI has been the topic of several other reports. Raymond James Financial, Inc. reaffirmed a strong-buy rating on shares of Silver Spring Networks in a report on Wednesday, June 28th. Guggenheim assumed coverage on shares of Silver Spring Networks in a report on Tuesday, June 20th. They issued a buy rating and a $13.00 price objective on the stock. Williams Capital upped their price objective 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. Cowen and Company reaffirmed an outperform rating and issued a $16.00 price objective (down from $17.00) on shares of Silver Spring Networks in a report on Thursday, August 10th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $11.00 price objective (up from $9.00) on shares of Silver Spring Networks in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $15.04.

Silver Spring Networks (NYSE SSNI) opened at 16.15 on Monday. The company’s market capitalization is $865.07 million. The firm has a 50-day moving average of $12.71 and a 200 day moving average of $11.31. Silver Spring Networks has a 52-week low of $9.68 and a 52-week high of $16.19.

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

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In other Silver Spring Networks news, insider Raj Vaswani sold 9,611 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.97, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald L. Reeves III sold 30,579 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $16.15, for a total transaction of $493,850.85. Following 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. Over the last quarter, insiders sold 114,644 shares of company stock valued at $1,535,575. Company insiders own 29.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Ardsley Advisory Partners raised its position in Silver Spring Networks by 232.6% during the second quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock worth $14,264,000 after acquiring an additional 884,000 shares during the period. Robecosam AG raised its position in Silver Spring Networks by 10.0% during the second quarter. Robecosam AG now owns 660,000 shares of the technology company’s stock worth $7,432,000 after acquiring an additional 60,000 shares during the period. Sterling Capital Management LLC raised its position in Silver Spring Networks by 66.9% during the second quarter. Sterling Capital Management LLC now owns 45,401 shares of the technology company’s stock worth $512,000 after acquiring an additional 18,200 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Silver Spring Networks during the second quarter worth $350,000. Finally, The Manufacturers Life Insurance Company raised its position in Silver Spring Networks by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 33,685 shares of the technology company’s stock worth $380,000 after acquiring an additional 3,412 shares during the period. Institutional investors own 78.30% of the company’s stock.

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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Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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