Trade Report: Today: Silver Spring Networks Inc. (SSNI) Earns Buy Rating from Analysts at Williams Capital

Today: Silver Spring Networks Inc. (SSNI) Earns Buy Rating from Analysts at Williams Capital

Research analysts at Williams Capital began coverage on shares of Silver Spring Networks Inc. (NYSE:SSNI) in a research note issued on Monday. The firm set a “buy” rating and a $18.00 price target on the stock. Williams Capital’s price objective points to a potential upside of 22.45% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. FBR & Co assumed coverage on shares of Silver Spring Networks in a research note on Tuesday, November 8th. They issued an “outperform” rating and a $17.00 target price for the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $13.00 target price on shares of Silver Spring Networks in a research note on Friday, November 4th. Zacks Investment Research lowered shares of Silver Spring Networks from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $17.00 target price (up from $15.00) on shares of Silver Spring Networks in a research note on Monday, October 10th. Finally, Wunderlich upped their target price 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. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.33.

Silver Spring Networks (NYSE:SSNI) traded down 0.34% during trading on Monday, hitting $14.65. The stock had a trading volume of 36,171 shares. The company has a market capitalization of $760.25 million, a price-to-earnings ratio of 13.91 and a beta of 1.74. The stock has a 50 day moving average price of $14.01 and a 200 day moving average price of $13.24. Silver Spring Networks has a 12-month low of $9.55 and a 12-month high of $16.18.

Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The firm earned $74.20 million during the quarter, compared to analyst estimates of $75.29 million. During the same period last year, the firm earned $0.10 EPS. Silver Spring Networks’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts forecast that Silver Spring Networks will post $0.18 earnings per share for the current year.

In other news, General Counsel Richard S. Jr. Arnold sold 8,621 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $14.90, for a total value of $128,452.90. Following the sale, the general counsel now directly owns 5,523 shares of the company’s stock, valued at approximately $82,292.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 29.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shinko Asset Management Co. Ltd. boosted its position in Silver Spring Networks by 0.8% in the third quarter. Shinko Asset Management Co. Ltd. now owns 24,912 shares of the company’s stock valued at $353,000 after buying an additional 188 shares in the last quarter. American International Group Inc. boosted its position in Silver Spring Networks by 2.2% in the second quarter. American International Group Inc. now owns 21,816 shares of the company’s stock valued at $265,000 after buying an additional 474 shares in the last quarter. RobecoSam USA Inc. boosted its position in Silver Spring Networks by 1.4% in the third quarter. RobecoSam USA Inc. now owns 35,500 shares of the company’s stock valued at $503,000 after buying an additional 500 shares in the last quarter. Teachers Advisors LLC boosted its position in Silver Spring Networks by 0.9% in the third quarter. Teachers Advisors LLC now owns 59,300 shares of the company’s stock valued at $841,000 after buying an additional 507 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Silver Spring Networks by 1.5% in the third quarter. Rhumbline Advisers now owns 37,042 shares of the company’s stock valued at $525,000 after buying an additional 560 shares in the last quarter. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

Silver Spring Networks Company Profile

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