SFBS Price Prediction Next Week
Analysis and Insights
Technical Analysis:
SFBS is currently trading near its lower Bollinger Band, suggesting potential oversold conditions. The RSI_14 is at 39.56, indicating a neutral position but close to oversold territory. The MACD is slightly bearish, but the stock is approaching a critical support level at 82.18, which could act as a floor.
Fibonacci Levels:
The Fibonacci pivot point is at 88.39, with resistance levels at 92.22 and 94.59, and support levels at 82.18 and 78.34. The stock is currently trading below the pivot, suggesting a potential bounce if it holds above the lower support.
Fundamental Analysis:
SFBS recently reported strong Q4 earnings, beating estimates with $1.19 per share, up from $0.77 last year. This positive earnings surprise could drive short-term momentum.
Price Prediction:
Based on the technical setup and recent earnings, SFBS is expected to move towards the upper resistance level of 92.22. The stock is likely to bounce off the current support level, targeting $89.50 next week.
Recommendation:
Buy SFBS as it approaches the support level of 82.18, with a target price of $89.50.
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SFBS Analyst's Forecast
Stephen Scouten
Piper Sandler
Hold
2024-10-22
Price Target
$76 → $79
Downside
-6.48%
Piper Sandler raised the firm's price target on ServisFirst to $79 from $76 and keeps a Neutral rating on the shares. The firm is also increasing its 2024 to $4.05 from $3.73 on the Q3 beat and expectations of lower expenses with continued net interest income growth. Piper believes the shares remain expensive on earnings, but doesn't see anything looming to derail the current valuation paradigm.
