Canaccord Genuity Sticks to Their Buy Rating for Silvergate Capital (SI)


In a report released yesterday, Joseph Vafi from Canaccord Genuity maintained a Buy rating on Silvergate Capital (SI), with a price target of $40.00. The company’s shares closed last Friday at $33.07.

According to TipRanks.com, Vafi is a 5-star analyst with an average return of 37.5% and a 78.2% success rate. Vafi covers the Technology sector, focusing on stocks such as Fidelity National Info, Paypal Holdings, and Coupa Software.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Silvergate Capital with a $28.00 average price target.

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Silvergate Capital’s market cap is currently $652M and has a P/E ratio of 30.10. The company has a Price to Book ratio of 2.18.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Silvergate Capital Corp. is a holding company, which engages in the provision of banking and loan services. It focuses on the financial infrastructure solutions and services for participants in the nascent and digital currency industry. The company was founded in 1988 and is headquartered in La Jolla, CA.

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