Raymond James Upgrades Silver Spring Networks Inc to Strong Buy

Brokerage firm Raymond James Upgrades its rating on Silver Spring Networks Inc(NYSE:SSNI). The shares have been rated Strong Buy. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Jun 30, 2016.

Silver Spring Networks Inc (SSNI) shares turned negative on Tuesdays trading session with the shares closing down -0.51 points or -4.18% at a volume of 1,82,989. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.2321. The peak price level was also seen at $12.2321 while the days lowest was $11.65. Finally the shares closed at $11.68. The 52-week high of the shares is $16.18 while the 52-week low is $9.55. According to the latest information available, the market cap of the company is $594 M.

Silver Spring Networks Inc(SSNI) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $68.91M. Analysts had an estimated revenue of $65.99M. Earnings per share were $0.02. Analysts had estimated an EPS of $-0.05.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Scott A. Lang (Board Chair; ExecutiveChairman) sold 144,542 shares at $13.30 per share price.Also, On May 25, 2016, Richard S. Jr. Arnold (General Counsel & Secretary) sold 7,833 shares at $13.19 per share price.On May 19, 2016, Raj Vaswani (Chief Technology Officer) sold 458 shares at $12.80 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.

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