4 Reasons to Go Long On Silvergate Capital Corporation [SI]

Silvergate Capital Corporation [SI] stock is up 2.79 while the S&P 500 has fallen -0.44% on Monday, 12/14/20. While at the time of this article, SI ATR is sitting at 3.39. This stock’s volatility for the past week remained at 11.66%, while it was 8.62% for the past 30-day period. SI has risen $1.1 from the previous closing price of $39.49 on volume of 1.5 million shares.

On 5, November 2020, Silvergate Announces Addition of Jonathan Melton as Director of Digital Asset Lending. According to news published on Yahoo Finance, Silvergate Capital Corporation (“Silvergate” or the “Company”) (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, announced today that Jonathan Melton joined its team as director of digital asset lending. In this role, Jonathan will lead the expansion of the Company’s SEN Leverage product. SEN Leverage allows customers to obtain U.S. dollar (“USD”) loans collateralized by bitcoin using the Silvergate Exchange Network (“SEN”) to fund loans and process repayments in virtually real-time, 24 hours per day, 7 days per week, 365 days per year.

Analyst Birdseye View:

The most recent analyst activity for Silvergate Capital Corporation [NYSE:SI] stock was on October 16, 2020, when it was Initiated with a Buy rating from Compass Point, which also raised its 12-month price target on the stock to $18. Before that, on December 02, 2020, Craig Hallum Recapitulated a Buy rating and elevated its amount target to $50. On March 16, 2020, Canaccord Genuity Initiated a Buy rating and boosted its price target on this stock to $13. On December 03, 2019, Keefe Bruyette Initiated a Mkt perform rating. On December 02, 2019, Barclays Initiated an Overweight rating. On November 18, 2019, Compass Point Initiated a Buy rating.

In the past 52 weeks of trading, this stock has oscillated between a low of $7.60 and a peak of $45.63. Right now, according to Wall Street analyst the average 12-month amount target is $39.00. At the most recent market close, shares of Silvergate Capital Corporation [NYSE:SI] were valued at $40.59. According to the average price forecast, investors can expect a potential return of 14.5%.

FUNDAMENTAL ANALYSIS

Silvergate Capital Corporation [NYSE:SI] most recently reported quarterly sales of 19.3 billion, which represented growth of -9.80%. This publicly-traded organization’s revenue is $424,558 per employee, while its income is $115,563 per employee. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 1.20, 11.77, 11.37 and 10.72 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 24.11 and the whole liability to whole assets at 3.44. It shows enduring liability to the whole principal at 7.09 and enduring liability to assets at 0.01 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 39.07 points at 1st support level, the second support level is making up to 37.54. But as of 1st resistance point, this stock is sitting at 43.05 and at 45.50 for 2nd resistance point.

Silvergate Capital Corporation [SI] reported its earnings at $0.37 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $0.22/share signifying the difference of 0.15 and 68.20% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were $0.29 calling estimates for $0.19/share with the difference of 0.1 depicting the surprise of 52.60%.

Now if looking for a valuation of this stock’s amount to sales ratio it’s 3.20, it’s amount to book ratio is 1.29 and showing 37.72 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by DIRCKS THOMAS C, Director, and it was the sale of 60000.0 shares on Dec 08. Eisele Derek J., the Executive Vice President, completed a sale of 595.0 shares on Dec 07. On Dec 02, Eisele Derek J., Executive Vice President, completed a sale of 5000.0 shares.