DeFi Development (NASDAQ:DFDV) Board Authorizes Stock Repurchase Plan

DeFi Development (NASDAQ:DFDV) declared that its board has initiated a share buyback program on Wednesday, September 24th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 25.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

DeFi Development Trading Up 1.5%

Shares of DFDV opened at $15.34 on Thursday. The firm has a market cap of $392.24 million, a P/E ratio of 22.99 and a beta of -7.36. DeFi Development has a 12 month low of $0.49 and a 12 month high of $53.88. The stock’s 50-day moving average is $17.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.14 and a quick ratio of 1.14.

DeFi Development (NASDAQ:DFDV) last announced its earnings results on Thursday, August 14th. The company reported ($0.18) EPS for the quarter. The company had revenue of $1.99 million for the quarter. DeFi Development had a negative return on equity of 26.19% and a negative net margin of 129.81%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Cantor Fitzgerald upgraded DeFi Development to a “strong-buy” rating in a report on Wednesday, August 13th. Wall Street Zen cut DeFi Development from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Finally, Craig Hallum initiated coverage on DeFi Development in a research report on Monday, August 4th. They set a “buy” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus price target of $35.00.

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.