The average of price targets set by Wall Street analysts indicates a potential upside of 32.3% in Silvergate Capital Corporation (SI). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Silvergate is a tiny, under-the-radar bank. What makes it notable is that Silvergate was a first-mover in providing banking services to the crypto industry. Silvergate saw this problem as an opportunity.
Shares of several crypto stocks are rising today after a good weekend for Bitcoin (CRYPTO: BTC), which seems to be moving higher due to investors' belief that inflation has peaked. As of this writing, the price of Bitcoin has risen 4.4% over the last 24 hours. Shares of the large crypto exchange Coinbase (NASDAQ: COIN) were trading roughly 6.5% higher at 11:15 a.m. ET today.