Galaxy Digital (NASDAQ:GLXY) Stock Rating Reaffirmed as “Buy” by Canaccord Genuity Group

Galaxy Digital (NASDAQ:GLXY)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $50.00 target price on the stock. Canaccord Genuity Group‘s target price would suggest a potential upside of 173.76% from the stock’s current price.

A number of other research analysts have also issued reports on the company. BTIG Research decreased their target price on Galaxy Digital from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price objective on Galaxy Digital from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Maxim Group decreased their price target on shares of Galaxy Digital from $46.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Rosenblatt Securities dropped their price objective on shares of Galaxy Digital from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Finally, Citigroup raised shares of Galaxy Digital from a “neutral” rating to a “buy” rating and boosted their price target for the company from $26.00 to $28.00 in a research report on Tuesday, October 13th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

Galaxy Digital Stock Up 6.3%

Shares of NASDAQ GLXY traded up $1.08 during trading hours on Wednesday, hitting $18.26. 2,098,636 shares of the stock were exchanged, compared to its average volume of 6,363,430. The firm has a fifty day moving average price of $22.10 and a 200-day moving average price of $24.33. Galaxy Digital has a 12 month low of $14.19 and a 12 month high of $38.00. The company has a market cap of $7.14 billion, a PE ratio of -28.05 and a beta of 5.11.

Galaxy Digital (NASDAQ:GLXY) last announced its earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.54. The business had revenue of $8.69 billion for the quarter. As a group, equities analysts anticipate that Galaxy Digital will post -0.59 earnings per share for the current fiscal year.

Insider Activity at Galaxy Digital

In other news, Director Steven Bandrowczak acquired 5,100 shares of Galaxy Digital stock in a transaction on Monday, August 10th. The stock was bought at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the purchase, the director owned 39,186 shares in the company, valued at $769,221.18. This represents a 14.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible 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 transaction of $134,960.79. Following the sale, the insider owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. This represents a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Galaxy Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC lifted its holdings in Galaxy Digital by 8.5% in the third quarter. Apollon Wealth Management LLC now owns 55,164 shares of the company’s stock valued at $1,254,000 after acquiring an additional 4,330 shares during the period. Inspire Investing LLC increased its holdings in Galaxy Digital by 58.9% during the 3rd quarter. Inspire Investing LLC now owns 23,374 shares of the company’s stock valued at $532,000 after acquiring an additional 8,665 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of Galaxy Digital in the third quarter valued at approximately $30,000. Blue Jean Financial LLC lifted its position in shares of Galaxy Digital by 6.8% in the third quarter. Blue Jean Financial LLC now owns 148,911 shares of the company’s stock valued at $3,386,000 after acquiring an additional 9,440 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD boosted its stake in shares of Galaxy Digital by 10.4% during the 3rd quarter. Clark Financial Services Group Inc. BD now owns 18,250 shares of the company’s stock worth $415,000 after purchasing an additional 1,717 shares during the last quarter.

Key Galaxy Digital News

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

• Positive Sentiment: Galaxy Digital reported third-quarter adjusted earnings of $0.83 per share, well above the $0.27-$0.29 consensus estimates. Revenue reached approximately $8.69 billion, while reported net income was about $323 million, supported in part by a rebound in the value of the company’s investments. Galaxy Announces Third Quarter 2026 Financial Results
• Positive Sentiment: The company announced a new share-repurchase program, giving management a way to return capital to shareholders and potentially support the stock after its substantial recent pullback. Galaxy Digital Stock Rises After Q3 Profit and New Buyback
• Positive Sentiment: Management highlighted growth in its AI and data-center business, including the Helios project. Investors appear encouraged that Galaxy is expanding beyond cryptocurrency trading and investment activities into potentially recurring infrastructure revenue. Galaxy Digital Earnings Call Highlights AI and Helios Growth
• Positive Sentiment: Canaccord Genuity, HC Wainwright, Chardan Capital and BTIG Research all maintained buy ratings. Their price targets range from $35 to $50, signaling substantial potential upside in the analysts’ models despite recent target reductions by some firms.
• Neutral Sentiment: The earnings beat partly reflects investment gains and remains sensitive to cryptocurrency and broader market conditions. Galaxy also remains unprofitable on some full-year forecast measures, so results may be volatile.
• Negative Sentiment: BTIG lowered its target to $35 from $45, while HC Wainwright reduced its target to $36 from $40. These cuts suggest analysts remain cautious about valuation, execution and the durability of the recent recovery.

Galaxy Digital Company Profile

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.