Silver Spring Networks Inc (SSNI) was Initiated by Williams Capital Group to “Buy” and the brokerage firm has set the Price Target at $18. Williams Capital Group advised their investors in a research report released on Nov 28, 2016.
Many Wall Street Analysts have commented on Silver Spring Networks Inc. FBR & Co. Initiated Silver Spring Networks Inc on Nov 8, 2016 to “Outperform”, Price Target of the shares are set at $17.Company shares were Reiterated by Wunderlich on Sep 28, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $16 .
On the company’s financial health, Silver Spring Networks Inc reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.05. The company had revenue of $74.20 million for the quarter, compared to analysts expectations of $75.09 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Silver Spring Networks Inc opened for trading at $14.7 and hit $14.73 on the upside on Friday, eventually ending the session at $14.7, with a gain of 0.48% or 0.07 points. The heightened volatility saw the trading volume jump to 40,322 shares. Company has a market cap of $763 M.
In a different news, on Nov 22, 2016, Richard S. Jr. Arnold (General Counsel & Secretary) sold 8,621 shares at $14.90 per share price. According to the SEC, on Nov 15, 2016, Kenneth P. Gianella (Chief Financial Officer) sold 682 shares at $14.40 per share price. On Aug 31, 2016, Donald L. Iii Reeves (Chief Technology Officer) sold 5,129 shares at $14.00 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.