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Fly News Breaks for December 2, 2019
CDLX, BLL, SEDG, SI, LYB
Dec 2, 2019 | 10:17 EDT
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. LyondellBasell (LYB) resumed with an Overweight at Morgan Stanley. 2. Silvergate Capital (SI) initiated with an Overweight at Barclays. 3. SolarEdge (SEDG) initiated with a Buy at Needham. 4. Ball Corp. (BLL) initiated with an Outperform at Northland. 5. Cardlytics (CDLX) initiated with a Buy at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
News For LYB;SI;SEDG;BLL;CDLX From the Last 2 Days
SI
Jan 19, 2022 | 16:10 EST
Goldman Sachs analyst Will Nance upgraded Silvergate Capital to Buy from Neutral with a price target of $166, down from $190, after the shares fell 25% on the back of a miss in Q4, with the market focused on the headline miss on net interest income. Silvergate shares now trade at the lowest levels of valuation since he initiated coverage, are approaching valuation metrics of more traditional, lower growth banks and are trading at a significant discount to "growthier banks," which he calls out as "a compelling opportunity to buy a growth oriented bank with attractive leverage to the growth in the crypto ecosystem."
SI
Jan 19, 2022 | 08:58 EST
B. Riley analyst Steve Moss reiterates a Buy rating on Silvergate Capital with a $260 price target. The company missed "bullish" Q4 expectations following a strong mid-quarter update, but the selloff in the shares is overdone as Silvergate reported several positive developments that bode well for the future, Moss tells investors in a research note. In particular, an increase in prospective digital currency customers and robust capital levels should facilitate the addition of new customers in 2022 to drive further deposit growth, says the analyst. He views the pullback as an "additional buying opportunity."
SI
Jan 19, 2022 | 07:27 EST
Canaccord analyst Joseph Vafi expects Silvergate Capital to see further drivers of earnings growth emerge, including NIM expansion coming from a higher interest rate environment. He also expect to see more opportunities emerge around stablecoin issuance, either in partnership with a leading service provider such as Meta or on a standalone "Switzerland" basis. Vafi reiterated his Buy rating and $164 price target on Silvergate Capital shares.
SI
Jan 18, 2022 | 12:38 EDT
Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.  1... To see the rest of the story go to thefly.com. See Story Here
SEDG
Jan 18, 2022 | 10:59 EDT
Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell. From the hotly-debated... To see the rest of the story go to thefly.com. See Story Here
SI
Jan 18, 2022 | 09:47 EST
Silvergate Capital is down -12.5%, or -$17.27 to $120.88.
SI
Jan 18, 2022 | 09:01 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Activision... To see the rest of the story go to thefly.com. See Story Here
SI
Jan 18, 2022 | 06:31 EST
Reports Q4 NII $40.2M vs. $39.0M for 3Q21 and $22.4M for 4Q20. Did not record a provision for loan losses for 4Q21, 2Q21, or 4Q20 as a result of management's assessment of the level of the allowance for loan losses relative to the size and composition of the loan portfolio, among other factors. CEO Alan Lane commented, "2021 was another year of significant growth and momentum for Silvergate, driven by strong demand for our digital currency solutions powered by the SEN. Total deposits grew to $14.3B at the end of 2021 and our full year net income more than tripled compared to last year, reflecting growth in both fee income and net interest income. In the fourth quarter, we grew SEN utilization and transaction revenue, significantly grew SEN Leverage lines of credit and increased average deposits from digital currency customers to a record $13.3B. We also continued to build our stablecoin infrastructure capabilities, and announced the launch of the EJF Silvergate Venture Fund, an investment vehicle to support entrepreneurs who will help shape the future of the digital currency ecosystem. As we look forward to 2022 and beyond, I am excited about the opportunities and areas for growth that lie ahead as the digital currency industry continues to evolve."