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What To Know About Craig-Hallum's Downgrade of Silvergate Capital

Benzinga · 01/06/2023 12:00

Craig-Hallum downgraded its rating of Silvergate Capital (NYSE:SI) to Hold with a price target of $14.00, changing its price target from $36.00 to $14.00.

Shares of Silvergate Capital are trading down 12.58% over the last 24 hours, at $10.99 per share.

A move to $14.00 would account for a 27.4% increase from the current share price.

About Silvergate Capital

Silvergate Capital Corp is a provider of various financial infrastructure solutions and services. Its solutions and service offerings include Silvergate Exchange Network, Cash Management Solutions and Deposit Account Services. Its customers include U.S. exchanges and global investors in the digital currency industry. The company also provides financial services that include commercial banking, business lending, commercial and residential real estate lending, and mortgage warehouse lending.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.