Stock Repurchase Program Authorized by DeFi Development (NASDAQ:DFDV)

Key Points

• DeFi Development's Board of Directors has approved a stock repurchase plan, allowing the company to buy back up to $100 million worth of its shares, equivalent to 25.9% of its stock.
• The stock's current average rating is "Strong Buy" from analysts, with target prices ranging up to $35.00.
• As of the last trading session, DeFi Development's stock price increased by 1.5%, trading at $15.34 with a market capitalization of approximately $392.24 million.

DeFi Development (NASDAQ:DFDV - Get Free Report) announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 24th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 25.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on DFDV shares. Craig Hallum started coverage on shares of DeFi Development in a research note on Monday, August 4th. They issued a "buy" rating and a $25.00 price objective for the company. Wall Street Zen cut shares of DeFi Development from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Finally, Cantor Fitzgerald upgraded shares of DeFi Development to a "strong-buy" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Strong Buy" and an average target price of $35.00.

DeFi Development Stock Up 1.5%

Shares of NASDAQ:DFDV traded up $0.23 during trading on Wednesday, reaching $15.34. The stock had a trading volume of 2,138,237 shares, compared to its average volume of 2,592,743. The firm's fifty day moving average is $17.23. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The firm has a market cap of $392.24 million, a PE ratio of 22.99 and a beta of -7.36. DeFi Development has a fifty-two week low of $0.49 and a fifty-two week high of $53.88.

DeFi Development (NASDAQ:DFDV - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $1.99 million during the quarter. DeFi Development had a negative net margin of 129.81% and a negative return on equity of 26.19%.

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.

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