Silver Spring Networks Inc (SSNI) Receives Average Recommendation of “Hold” from Analysts

Shares of Silver Spring Networks Inc (NYSE:SSNI) have received an average rating of “Hold” from the eighteen analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $14.58.

Several equities analysts have issued reports on SSNI shares. B. Riley set a $16.00 price target on shares of Silver Spring Networks and gave the company a “hold” rating in a research report on Thursday, January 4th. BidaskClub cut shares of Silver Spring Networks from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Silver Spring Networks in a research report on Friday, January 12th. Finally, Zacks Investment Research upgraded shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, January 2nd.

In other news, CEO Michael Bell sold 140,230 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $16.23, for a total transaction of $2,275,932.90. Following the completion of the sale, the chief executive officer now directly owns 208,068 shares in the company, valued at $3,376,943.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Raj Vaswani sold 14,273 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $16.07, for a total transaction of $229,367.11. Following the sale, the insider now owns 106,057 shares of the company’s stock, valued at $1,704,335.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,117 shares of company stock valued at $4,669,524. 25.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Magnetar Financial LLC acquired a new stake in Silver Spring Networks in the third quarter worth $31,789,000. Allianz Asset Management GmbH grew its holdings in Silver Spring Networks by 569.2% in the third quarter. Allianz Asset Management GmbH now owns 1,181,315 shares of the technology company’s stock worth $19,101,000 after purchasing an additional 1,004,779 shares during the period. Ardsley Advisory Partners grew its holdings in Silver Spring Networks by 232.6% in the second quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock worth $14,264,000 after purchasing an additional 884,000 shares during the period. Vivaldi Asset Management LLC acquired a new stake in Silver Spring Networks in the third quarter worth $13,039,000. Finally, Gabelli Funds LLC acquired a new stake in Silver Spring Networks in the third quarter worth $9,657,000. Institutional investors own 75.53% of the company’s stock.

Silver Spring Networks (NYSE:SSNI) opened at $16.26 on Friday. The company has a market cap of $880.35, a P/E ratio of -19.59 and a beta of 1.60. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $16.26.

Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. The business had revenue of $82.79 million during the quarter, compared to analyst estimates of $77.32 million. equities analysts anticipate that Silver Spring Networks will post -0.34 earnings per share for the current year.

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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)

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