Silver Spring Networks Inc (SSNI) Given Average Recommendation of “Hold” by Analysts
Silver Spring Networks Inc (NYSE:SSNI) has been assigned an average rating of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.58.
SSNI has been the subject of a number of research reports. Guggenheim cut shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.00 to $16.00 in a report on Monday, September 18th. Oppenheimer restated a “buy” rating and issued a $14.00 price target on shares of Silver Spring Networks in a report on Monday, September 18th. ValuEngine upgraded shares of Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Raymond James Financial restated a “market perform” rating and issued a $16.25 price target on shares of Silver Spring Networks in a report on Tuesday, September 19th. Finally, Cowen cut shares of Silver Spring Networks from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 19th.
In other Silver Spring Networks news, CEO Michael Bell sold 140,230 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $16.23, for a total value of $2,275,932.90. Following the transaction, the chief executive officer now directly owns 208,068 shares of the company’s stock, valued at $3,376,943.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Theresa Stynes sold 46,886 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $16.11, for a total transaction of $755,333.46. Following the completion of the transaction, the insider now directly owns 23,749 shares in the company, valued at $382,596.39. The disclosure for this sale can be found here. Insiders sold 359,521 shares of company stock worth $5,820,088 over the last ninety days. Insiders own 25.20% of the company’s stock.
Shares of Silver Spring Networks (NYSE SSNI) opened at $16.26 on Tuesday. The firm has a market cap of $880.35, a price-to-earnings ratio of -19.59 and a beta of 1.60. Silver Spring Networks has a 12-month low of $9.68 and a 12-month high of $16.26.
Silver Spring Networks (NYSE:SSNI) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. equities research analysts expect that Silver Spring Networks will post -0.34 EPS for the current fiscal year.
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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