Trade Report: The Silver Spring Networks’ (SSNI) Outperform Rating Reaffirmed at Oppenheimer Holdings Inc.

The Silver Spring Networks’ (SSNI) Outperform Rating Reaffirmed at Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. reaffirmed their outperform rating on shares of Silver Spring Networks Inc. (NYSE:SSNI) in a research note issued to investors on Monday morning. Oppenheimer Holdings Inc. currently has a $17.00 target price on the stock, up from their previous target price of $15.00.

SSNI has been the topic of a number of other research reports. Wunderlich upped their price target on shares of Silver Spring Networks from $16.00 to $17.00 and gave the stock a buy rating in a research note on Wednesday, September 28th. Raymond James Financial Inc. upgraded shares of Silver Spring Networks from an outperform rating to a strong-buy rating and set a $16.00 price target on the stock in a research note on Thursday, June 30th. Zacks Investment Research upgraded shares of Silver Spring Networks from a hold rating to a buy rating and set a $15.00 price target on the stock in a research note on Thursday, August 11th. Pacific Crest restated a buy rating and set a $17.00 target price on shares of Silver Spring Networks in a research note on Friday, August 5th. Finally, Canaccord Genuity set a $13.00 target price on shares of Silver Spring Networks and gave the company a hold rating in a research note on Saturday, August 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $15.22.

Silver Spring Networks (NYSE:SSNI) opened at 13.68 on Monday. The stock has a market cap of $705.75 million, a P/E ratio of 10.46 and a beta of 1.76. Silver Spring Networks has a 1-year low of $9.55 and a 1-year high of $16.18. The stock has a 50 day moving average of $13.84 and a 200 day moving average of $13.28.

Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. The firm earned $71.85 million during the quarter, compared to the consensus estimate of $68.18 million. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. Equities analysts anticipate that Silver Spring Networks will post $0.14 EPS for the current fiscal year.

In other news, CTO Donald L. Reeves III sold 5,129 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.00, for a total value of $71,806.00. Following the transaction, the chief technology officer now owns 42,823 shares in the company, valued at approximately $599,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 29.60% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Silver Spring Networks during the second quarter valued at about $877,000. California State Teachers Retirement System raised its stake in Silver Spring Networks by 3.0% in the second quarter. California State Teachers Retirement System now owns 79,465 shares of the company’s stock valued at $965,000 after buying an additional 2,309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Silver Spring Networks by 4,419.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,905 shares of the company’s stock valued at $497,000 after buying an additional 40,000 shares in the last quarter. Spark Investment Management LLC purchased a new stake in Silver Spring Networks during the first quarter valued at about $501,000. Finally, RobecoSam USA Inc. raised its stake in Silver Spring Networks by 2.5% in the second quarter. RobecoSam USA Inc. now owns 35,000 shares of the company’s stock valued at $425,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 75.23% of the company’s stock.

Silver Spring Networks Company Profile

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