After Missing Earnings Estimates, Is Silvergate Capital Still a Buy?

Shares of the crypto bank Silvergate Capital (NYSE: SI) plummeted nearly 23% on Jan. 18 after the company reported fourth-quarter and full-year earnings results for 2021 that missed analysts' estimates for the first time since the company went public. Silvergate reported diluted earnings per common share of $0.66 on total revenue of nearly $49.3 million, missing consensus estimates of $0.72 earnings per share and revenue of nearly $53.5 million. Silvergate has created a proprietary, real-time payments network called the Silvergate Exchange Network (SEN), which enables two parties on the network to clear and settle transactions instantly at any day or time.