Galaxy Digital (NASDAQ:GLXY) Shares Gap Up on Strong Earnings

Galaxy Digital Inc. (NASDAQ:GLXY)’s stock price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $15.68, but opened at $16.65. Galaxy Digital shares last traded at $16.2220, with a volume of 1,445,332 shares.

The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.54. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%. The business had revenue of $8.69 billion during the quarter.

Key Galaxy Digital News

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

• Positive Sentiment: Q3 earnings exceeded expectations. Galaxy Digital reported adjusted earnings of $0.83 per share, well above consensus estimates ranging from $0.27 to $0.29. Revenue was $8.69 billion. The earnings surprise suggests stronger-than-expected operating performance and is the primary catalyst supporting the stock. Galaxy Digital Inc. Q3 Earnings Top Estimates
• Positive Sentiment: BTIG maintained a Buy rating. BTIG Research lowered its price target from $45 to $35 but still sees significant upside from current trading levels. The continued Buy rating indicates the firm believes the earnings outlook and longer-term growth prospects remain attractive despite the target reduction. BTIG Research price-target update
• Neutral Sentiment: Other analysts have also reduced targets while retaining Buy ratings. Rosenblatt Securities cut its target from $35 to $30, suggesting more cautious valuation assumptions, but its maintained Buy rating provides ongoing analyst support. Rosenblatt Securities recommendations
• Neutral Sentiment: Short-interest data showed no reported shares sold short. The reported short interest was zero shares as of October 26, limiting evidence of significant bearish positioning, although the figure may reflect a reporting or data issue.
• Negative Sentiment: Profitability metrics remain weak. Despite the quarterly earnings beat, Galaxy Digital reported a negative net margin of 0.75% and negative return on equity of 6.25%. Investors may therefore question the durability and quality of the reported profits.
• Negative Sentiment: The stock has suffered a steep recent selloff. GLXY recently traded near its lowest level since April 2025 and remained more than 68% below its 2025 peak. The decline highlights elevated volatility and continued sensitivity to cryptocurrency-market conditions. Galaxy Digital stock outlook

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GLXY. Rosenblatt Securities cut 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 report on Monday. Maxim Group decreased their target price on shares of Galaxy Digital from $46.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler dropped their price target on shares of Galaxy Digital from $33.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Weiss Ratings downgraded shares of Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Finally, Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Wednesday, August 5th. Eleven 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.67.

Insider Activity

In related news, Director Steven Bandrowczak acquired 5,100 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the acquisition, the director owned 39,186 shares in the company, valued at $769,221.18. The trade was a 14.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Friedrich sold 4,993 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 275,782 shares of the company’s stock, valued at $7,454,387.46. The trade was a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 51.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Galaxy Digital during the 2nd quarter worth about $30,000. Reyes Financial Architecture Inc. acquired a new position in Galaxy Digital in the 3rd quarter valued at about $30,000. CoreCap Advisors LLC grew its position in Galaxy Digital by 496.0% in the 3rd quarter. CoreCap Advisors LLC now owns 2,211 shares of the company’s stock valued at $50,000 after acquiring an additional 1,840 shares in the last quarter. GAMMA Investing LLC grew its position in Galaxy Digital by 1,160.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,345 shares of the company’s stock valued at $53,000 after acquiring an additional 2,159 shares in the last quarter. Finally, Hollencrest Capital Management increased its stake in Galaxy Digital by 204.0% during the first quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock worth $48,000 after purchasing an additional 1,734 shares during the period.

Galaxy Digital Price Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $6.40 billion, a PE ratio of -25.05 and a beta of 5.11. The stock’s 50 day simple moving average is $22.31 and its 200-day simple moving average is $24.42.

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.