DeFi Technologies: Buy Rating Affirmed Amid Nasdaq Listing and Crypto Market Recovery

Compass Point analyst Ed Engel maintained a Buy rating on DeFi Technologies (DEFI – Research Report) yesterday and set a price target of $6.50.

Ed Engel has given his Buy rating due to a combination of factors that highlight the potential growth and profitability of DeFi Technologies. The company’s recent listing on Nasdaq under the ticker “DEFT” is expected to enhance its visibility and attract more investors, especially as it coincides with a general recovery in cryptocurrency prices. This listing is anticipated to drive multiple expansion, which in turn supports an increased price target of US$6.50.
DeFi Technologies offers direct exposure to the rising crypto market by generating management fees and staking income from its ETP assets under management (AUM). The company boasts impressive EBITDA margins exceeding 75%, and it currently trades at a relatively low multiple of 11.5 times the projected 2025 earnings per share. Additionally, the firm’s AUM is rebounding, with significant month-to-date growth, reflecting the positive trend in crypto prices. These factors collectively underpin Engel’s optimistic outlook and Buy rating for the stock.

According to TipRanks, Engel is ranked #8853 out of 9472 analysts.