Galaxy Digital’s (GLXY) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Galaxy Digital (NASDAQ:GLXY) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $50.00 price target on the stock.

A number of other research firms have also commented on GLXY. The Goldman Sachs Group set a $20.50 price target on shares of Galaxy Digital in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Galaxy Digital from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Rosenblatt Securities decreased their price target on Galaxy Digital from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, October 26th. Weiss Ratings downgraded shares of Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Finally, BTIG Research cut their price target on shares of Galaxy Digital from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.29.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $16.00 on Wednesday. Galaxy Digital has a one year low of $14.19 and a one year high of $36.88. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $21.84 and its 200 day simple moving average is $24.22.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.54. Galaxy Digital had a negative net margin of 0.89% and a negative return on equity of 10.30%. The firm had revenue of $8.69 billion during the quarter. Research analysts forecast that Galaxy Digital will post -0.24 earnings per share for the current year.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the transaction, the director directly owned 71,000 shares of the company’s stock, valued at $1,529,340. This trade represents a 20.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Matthew W. Friedrich sold 4,993 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total value of $134,960.79. Following the completion of the transaction, the insider directly owned 275,782 shares in the company, valued at $7,454,387.46. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 51.53% of the company’s stock.

Hedge Funds Weigh In On Galaxy Digital

Several institutional investors have recently bought and sold shares of GLXY. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Galaxy Digital in the second quarter worth about $30,000. Reyes Financial Architecture Inc. purchased a new stake in shares of Galaxy Digital in the 3rd quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Galaxy Digital during the third quarter worth $37,000. CoreCap Advisors LLC lifted its stake in Galaxy Digital by 496.0% during the third quarter. CoreCap Advisors LLC now owns 2,211 shares of the company’s stock worth $50,000 after purchasing an additional 1,840 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Galaxy Digital by 1,160.8% during the third quarter. GAMMA Investing LLC now owns 2,345 shares of the company’s stock worth $53,000 after purchasing an additional 2,159 shares in the last quarter.

Key Stories Impacting Galaxy Digital

Here are the key news stories impacting Galaxy Digital this week:

• Positive Sentiment: Strong third-quarter results: Galaxy reported $0.83 in quarterly EPS, surpassing the $0.29 consensus estimate, on $8.69 billion in revenue. The results helped revive the company’s profitability outlook and initially supported the stock. Galaxy Digital Shares Up 6% on Strong Earnings
• Positive Sentiment: Improved earnings outlook from HC Wainwright: The firm raised its FY2026 estimate to $0.32 EPS from a previously implied loss outlook and lifted its FY2027 estimate to a loss of $0.13 per share from a loss of $0.67. It also increased estimates for several upcoming quarters, maintained a Buy rating and kept a $36 price target. HC Wainwright Has Lowered Expectations for Galaxy Digital Stock Price
• Positive Sentiment: National trust bank application: Galaxy applied to the OCC for a proposed Galaxy National Bank. If approved, the federally supervised trust bank could house its digital-asset custody, trading, staking and fiduciary advisory businesses, potentially strengthening institutional credibility and regulatory positioning. Approval is not guaranteed. Galaxy Applies for National Trust Bank Charter
• Positive Sentiment: Analyst support: Canaccord Genuity assigned a Buy rating, while Chardan Capital reaffirmed its Buy rating. Galaxy Digital Earns Buy Rating from Canaccord Genuity Group
• Negative Sentiment: Target-price pressure: BTIG Research and HC Wainwright lowered their expectations for GLXY’s stock price, which may be offsetting the benefit of the earnings beat and bullish ratings. The stock’s high beta also leaves it particularly sensitive to shifts in crypto sentiment and profit-taking after the recent earnings-driven advance. BTIG Research Has Lowered Expectations for Galaxy Digital Stock Price

About Galaxy Digital

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Founded in 2018 by Michael Novogratz, the company provides institutional investors, corporations and other market participants with services spanning trading, asset management, investment banking, principal investments and venture capital.

Its offerings include spot and derivatives trading, lending and structured products, digital-asset funds and separately managed accounts, as well as advisory services for mergers, acquisitions, capital raising and other strategic transactions.