DeFi Development (NASDAQ:DFDV) Raised to Strong-Buy at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded DeFi Development (NASDAQ:DFDV) to a strong-buy; analyst coverage is mixed (one Strong Buy, one Buy, one Hold) with a MarketBeat consensus price target of $35.00.
• Shares opened at $3.74 and are trading far below their 12‑month high of $53.88; the company has a market cap of $110.3M, a negative P/E of -0.74, and reported a ($1.50) EPS on $4.49M in quarterly revenue.
• Institutional ownership is very low at 0.48%, although hedge funds such as Pantera Capital, Alyeska Investment Group and Polar Asset Management built sizable new positions in recent quarters.

DeFi Development (NASDAQ:DFDV - Get Free Report) was upgraded by equities researchers at Cantor Fitzgerald to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on DFDV. Weiss Ratings reissued a "hold (c)" rating on shares of DeFi Development in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of DeFi Development from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $35.00.

DeFi Development Stock Performance

NASDAQ DFDV opened at $3.74 on Thursday. The company has a fifty day simple moving average of $3.93 and a 200 day simple moving average of $7.40. DeFi Development has a 12-month low of $2.96 and a 12-month high of $53.88. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.28. The company has a market cap of $110.33 million, a P/E ratio of -0.74 and a beta of -5.00.

DeFi Development (NASDAQ:DFDV - Get Free Report) last posted its quarterly earnings results on Monday, March 30th. The company reported ($1.50) earnings per share (EPS) for the quarter. The company had revenue of $4.49 million for the quarter.

Hedge Funds Weigh In On DeFi Development

Several large investors have recently bought and sold shares of the stock. Pantera Capital Partners LP bought a new position in DeFi Development during the 3rd quarter valued at $13,207,000. Alyeska Investment Group L.P. bought a new position in DeFi Development during the 3rd quarter valued at $9,489,000. Polar Asset Management Partners Inc. bought a new position in DeFi Development during the 3rd quarter valued at $6,379,000. Millennium Management LLC lifted its stake in DeFi Development by 215.0% during the 4th quarter. Millennium Management LLC now owns 407,794 shares of the company's stock valued at $2,059,000 after acquiring an additional 278,334 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in DeFi Development by 65.6% during the 4th quarter. Geode Capital Management LLC now owns 288,054 shares of the company's stock valued at $1,455,000 after acquiring an additional 114,118 shares in the last quarter. 0.48% of the stock is currently owned by institutional investors.

About DeFi Development

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.

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