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Investing.com - Benchmark lowered its price target on DeFi Technologies (NASDAQ:DEFT) to $3.00 from $8.00 while maintaining a Buy rating on the stock. This target still represents a significant 216% upside from current levels, aligning with the broader analyst consensus showing a potential 203% upside according to InvestingPro data.
The price target reduction comes after DeFi Technologies sharply reduced its 2025 revenue guidance and announced that co-founder Olivier Roussy Newton would step down as CEO and executive chairman. Despite the guidance cut, InvestingPro data shows analysts still anticipate sales growth of 212% for the current year, with the company expected to remain profitable.
Despite these developments, Benchmark noted that the company has delivered record assets under management and reached its strategic milestone of 100 crypto-focused exchange-traded products listed on European exchanges earlier than planned.
The firm also highlighted that DeFi Technologies has been executing plans to expand its global footprint into Africa, the Middle East, and Asia in the near future.
DEFT shares were trading just below $1 at Thursday’s market close, representing a 77% decline from their level on May 12, when the stock was uplisted to Nasdaq. The stock’s RSI suggests it’s currently in oversold territory, with a PEG ratio of just 0.12 indicating potential undervaluation relative to its growth prospects. InvestingPro identifies 15+ additional tips that could help investors evaluate this volatile stock’s potential.
In other recent news, DeFi Technologies has expanded its range of exchange-traded products (ETPs) by introducing 13 new offerings on the Spotlight market in Sweden. This development increases the company’s total ETP count to 99, aligning with their previously stated product introduction goals. The expansion follows the addition of eight new products in late August, demonstrating a consistent growth strategy. Analysts at H.C. Wainwright have maintained a Buy rating for DeFi Technologies, setting a price target of $5.50. The analyst firm highlights the company’s successful ETP expansion as a factor supporting its positive outlook. These recent developments suggest that DeFi Technologies is actively pursuing its growth objectives.
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