Silvergate Stock Forecast
Silvergate Capital Corp has an average analyst target price of USD 29.35 over the next 12 months, according to the forecasts from 10 analysts. The average analyst rating for the stock is “Buy”. Stock Target Advisor, has its own analysis of Silvergate Capital Corp and it is “Slightly Bullish”, which is based on 7 positive signals and 4 negative signals. The last closing price for Silvergate Capital Corp’s stock was USD 13.20. The stock has seen a change in price of +14.29% over the past week, -28.92% over the past month, and -90.45% over the last year. This suggests that the stock’s price has been fluctuating recently and has had a significant decrease in value over the past year.
Latest Analyst Coverage
Goldman Sachs maintains a “Neutral” rating with a target price range of “USD 35” to “USD 10” on January 9th, 2023.
Morgan Stanley maintains an “Underweight” rating with a target price range of “USD 24” to “USD 13” on January 9th, 2023.
Wedbush downgraded the stock from “Neutral” to “USD 15” to “USD 9” on January 9th, 2023.
JP Morgan & Company downgraded the stock from “Neutral” to “USD 30” to “USD 14” on January 6th, 2023.
BTIG Research maintains a “Buy” rating with a target price range of “USD 51” to “USD 21” on January 6th, 2023.
Canaccord Capital maintains a “Buy” rating with a target price range of “USD 150” to “USD 25” on January 6th, 2023.
Wells Fargo lowered its target price from “Equal Weight” to “USD 27” to “USD 16” on January 6th, 2023.
Bank of America Securities downgraded the stock from “Underperform” to “USD 37” to “USD 8” on January 6th, 2023.
Craig Hallum downgraded the stock from “Hold” to “USD 36” to “USD 14” on January 6th, 2023.
Keefe Bruyette Woods Capital lowered its target price from “USD 38” on January 4th, 2023.
Silvergate Earnings
Silvergate Capital Corp. posted a $1 billion loss for the fourth quarter, due to the collapse of crypto exchange FTX, which forced the bank to fire staff and sell assets. The bank has outlined steps to weather the meltdown, such as shedding some non-core, digital-asset customers, eliminating a portion of its digital-asset product portfolio and assessing its pipeline of prospective customers, discontinuing offering its crypto custody service. The bank’s CEO, Alan Lane, said that the bank believes in the digital asset industry and remains focused on providing value-added services for its core institutional customers. The bank’s shares rose as much as 28.5% on Tuesday before paring those gains. Silvergate Capital Corp is a bank that modeled itself as a go-to bank for crypto companies and as early providers of services catering to the industry.
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