DeFi Development (NASDAQ:DFDV) Issues Quarterly Earnings Results

DeFi Development (NASDAQ:DFDV) issued its earnings results on Wednesday. The company reported $1.88 earnings per share for the quarter, FiscalAI reports. The business had revenue of $1.86 million during the quarter.

DeFi Development Stock Up 6.5%

NASDAQ:DFDV opened at $7.18 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.14. DeFi Development has a fifty-two week low of $0.53 and a fifty-two week high of $53.88. The firm has a market cap of $216.26 million, a PE ratio of 10.76 and a beta of -7.77. The stock’s fifty day moving average is $13.61.

Institutional Trading of DeFi Development

Several large investors have recently added to or reduced their stakes in DFDV. Bank of America Corp DE bought a new stake in DeFi Development during the 3rd quarter worth approximately $66,000. Centiva Capital LP bought a new stake in DeFi Development during the 3rd quarter worth about $469,000. NewEdge Advisors LLC acquired a new stake in shares of DeFi Development in the third quarter valued at approximately $478,000. UBS Group AG acquired a new position in DeFi Development during the 3rd quarter worth $693,000. Finally, Millennium Management LLC bought a new position in DeFi Development in the 3rd quarter valued at $1,982,000. 0.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DFDV has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of DeFi Development in a research note on Wednesday, October 8th. Craig Hallum initiated coverage on DeFi Development in a research note on Monday, August 4th. They issued a “buy” rating and a $25.00 target price on the stock. Cantor Fitzgerald raised shares of DeFi Development to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen cut shares of DeFi Development from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, DeFi Development presently has an average rating of “Buy” and an average price target of $35.00.

DeFi Development declared that its Board of Directors has approved a share buyback program on Wednesday, September 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 25.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

DeFi Development Company Profile

We are a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. We seek to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through our online platform, we provide technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders.