Analyst Kevin Dede of H.C. Wainwright reiterated a Buy rating on DeFi Technologies (DEFI – Research Report), retaining the price target of $4.50.
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Kevin Dede’s rating is based on DeFi Technologies’ impressive growth in assets under management, which saw a 132% increase year-over-year, reaching approximately C$1.18 billion by the end of FY24. This growth is attributed to the rising value of cryptocurrencies and increased investor interest, which has fueled the expansion of their exchange-traded products (ETPs) portfolio from 28 to 60, with plans to exceed 100 by the end of 2025.
Additionally, DeFi Technologies’ strategic geographic expansions, including partnerships in Africa and Singapore, position the company to meet the growing global demand for regulated digital asset investments. The acquisition of Neuronomics AG further enhances their capabilities in AI-driven asset management, with several AI-based products set to launch. These factors, combined with a strong financial position and diverse revenue streams, underpin Dede’s Buy rating and a price target of $4.50.