Why Has Wunderlich Given Silver Spring Networks (NYSE:SSNI) a $17 Price Target
Wunderlich analyst have initiated coverage with a “Buy” rating on Silver Spring Networks (NYSE:SSNI) today and set a price target of $17. The firm’s shares opened today at 14.05.
From a total of 9 analysts covering Silver Spring Networks (NYSE:SSNI) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $17 while the lowest target price is $12. The mean of all analyst targets is $14.78 with a 1.42% above today’s ($14.05) stock price. Silver Spring Networks was the topic of 7 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Oppenheimer initiated shares on September 11 with “Outperform” rating. Pacific Crest upgraded SSNI stock in a recent report from September 7 to “Overweight” rating.
The stock increased 3.01% or $0.41 during the last trading session, striking $14.05. Approximately shares of stock traded hands. Silver Spring Networks Inc (NYSE:SSNI) has risen 44.55% since April 30, 2015 and is uptrending. It has outperformed by 44.84% the S&P500.
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 has a market cap of $686.67 million. The Firm provides a networking platform and solutions. It has 39.11 P/E ratio. The Company’s networking platform enables clients to communicate with devices connected to the power grid.
According to Zacks Investment Research, “Silver Spring Networks, Inc. operates as a networking platform and solutions provider for smart energy networks. It enables utilities to transform the power grid infrastructure into the smart grid. The Company supplies hardware, software and services that connect devices on the grid that deploys metering, demand response, distribution automation, and distributed generation. Silver Spring Networks, Inc. is headquartered in Redwood City, CA.” Get a free copy of the Zacks research report on Silver Spring Networks Inc (SSNI).