Silver Spring Networks, Inc. (NYSE:SSNI) Given a $14.00 Price Target at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. set a $14.00 price target on Silver Spring Networks, Inc. (NYSE:SSNI) in a report published on Wednesday, August 9th. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Silver Spring Networks from a hold rating to a sell rating in a research report on Tuesday, May 16th. BidaskClub downgraded shares of Silver Spring Networks from a hold rating to a sell rating in a research report on Saturday, July 8th. Pacific Crest downgraded shares of Silver Spring Networks from an overweight rating to a sector weight rating in a research report on Wednesday, May 10th. Guggenheim initiated coverage on shares of Silver Spring Networks in a research report on Tuesday, June 20th. They set a buy rating and a $13.00 price target for the company. Finally, Raymond James Financial, Inc. reissued a strong-buy rating on shares of Silver Spring Networks in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $14.05.

Shares of Silver Spring Networks (NYSE SSNI) opened at 12.68 on Wednesday. The stock’s 50 day moving average is $11.40 and its 200 day moving average is $11.31. Silver Spring Networks has a 12 month low of $9.68 and a 12 month high of $15.40. The stock’s market cap is $679.20 million.

Silver Spring Networks (NYSE:SSNI) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.41. The company had revenue of $261.60 million for the quarter, compared to analyst estimates of $69.10 million. During the same period in the previous year, the business posted $0.02 EPS. The firm’s quarterly revenue was up 114.6% compared to the same quarter last year. Analysts predict that Silver Spring Networks will post $0.01 earnings per share for the current fiscal year.

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In other Silver Spring Networks news, insider Raj Vaswani sold 14,272 shares of Silver Spring Networks stock in a transaction on Monday, July 10th. The shares were sold at an average price of $10.48, for a total value of $149,570.56. Following the completion of the transaction, the insider now owns 596,393 shares of the company’s stock, valued at $6,250,198.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 76,163 shares of company stock valued at $895,322. 29.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of SSNI. Bank of New York Mellon Corp boosted its stake in Silver Spring Networks by 28.0% in the first quarter. Bank of New York Mellon Corp now owns 1,405,450 shares of the technology company’s stock worth $15,868,000 after buying an additional 307,866 shares during the last quarter. US Bancorp DE boosted its stake in Silver Spring Networks by 46.7% in the first quarter. US Bancorp DE now owns 19,576 shares of the technology company’s stock worth $221,000 after buying an additional 6,235 shares during the last quarter. First Trust Advisors LP boosted its stake in Silver Spring Networks by 10.5% in the first quarter. First Trust Advisors LP now owns 108,378 shares of the technology company’s stock worth $1,224,000 after buying an additional 10,329 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Silver Spring Networks during the first quarter worth about $1,313,000. Finally, Wells Fargo & Company MN boosted its stake in Silver Spring Networks by 71.9% in the first quarter. Wells Fargo & Company MN now owns 206,135 shares of the technology company’s stock worth $2,327,000 after buying an additional 86,197 shares during the last quarter. Institutional investors own 75.73% 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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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