Silver Spring Networks Inc (SSNI) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 17 from a previous price target of $16 . Wunderlich advised their investors in a research report released on Sep 28, 2016.
On the company’s financial health, Silver Spring Networks Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.06. The company had revenue of $71.85 million for the quarter, compared to analysts expectations of $68.18 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Silver Spring Networks Inc opened for trading at $13.68 and hit $14.09 on the upside on Tuesday, eventually ending the session at $13.94, with a gain of 1.53% or 0.21 points. The heightened volatility saw the trading volume jump to 1,33,397 shares. Company has a market cap of $719 M.
In a different news, on Aug 31, 2016, Donald L. Iii Reeves (Chief Technology Officer) sold 5,129 shares at $14.00 per share price. According to the SEC, on Aug 31, 2016, Kenneth P. Gianella (Chief Financial Officer) sold 1,682 shares at $13.91 per share price. On Aug 31, 2016, Richard S. Jr. Arnold (General Counsel & Secretary) sold 1,000 shares at $13.87 per share price, according to the Form-4 filing with the securities and exchange commission.
Silver Spring Networks Inc. is engaged in creating building and deploying large scale networks and solutions enabling the Internet of things for critical infrastructure. The Company provides a networking platform and solutions. Its networking platform enables customers to communicate with devices connected to the power grid. Its networking platform comprises its hardware such as access points and relays its UtilOS network operating software and its GridScape management and security software. Its SilverLink Sensor Network helps customers use the data generated by devices on the network in order to provide insights for decision-making. Its solutions include advanced metering distribution automation demand-side management and street lights. Its services include professional services managed services and software as a service (SaaS) and customer support.