Canaccord Genuity Group Reaffirms Buy Rating for Galaxy Digital (NASDAQ:GLXY)

Key Points

• Canaccord Genuity Group reaffirmed a Buy rating on Galaxy Digital with a $50 price target, implying 191% upside from the cited $17.18 share price.
• Analyst sentiment remains broadly positive, with 11 Buy, two Hold and one Sell rating, producing a consensus “Moderate Buy” rating and an average target of $35.29, despite several firms lowering their targets.
• Galaxy Digital reported quarterly EPS of $0.83, beating the $0.29 consensus, and revenue of $8.69 billion; however, the stock remains highly volatile, trading below its moving averages and exposed to cryptocurrency-market cycles.

Galaxy Digital (NASDAQ:GLXY - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $50.00 price target on the stock. Canaccord Genuity Group's target price indicates a potential upside of 191.04% from the company's previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Galaxy Digital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Piper Sandler reduced their target price on shares of Galaxy Digital from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, October 20th. Morgan Stanley reduced their target price on shares of Galaxy Digital from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 9th. Maxim Group reduced their target price on shares of Galaxy Digital from $46.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, October 22nd. Finally, Chardan Capital reaffirmed a "buy" rating and set a $35.00 target price on shares of Galaxy Digital in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.29.

Galaxy Digital Stock Up 9.6%

GLXY opened at $17.18 on Wednesday. The firm has a 50 day moving average price of $22.10 and a 200-day moving average price of $24.33. Galaxy Digital has a twelve month low of $14.19 and a twelve month high of $38.54. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of -26.43 and a beta of 5.11.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.54. The company had revenue of $8.69 billion for the quarter. As a group, analysts expect that Galaxy Digital will post -0.59 earnings per share for the current year.

Insider Transactions at Galaxy Digital

In other news, Director Douglas R. Deason acquired 12,000 shares of Galaxy Digital stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $21.54 per share, with a total value of $258,480.00. Following the completion of the purchase, the director directly owned 71,000 shares in the company, valued at approximately $1,529,340. This trade represents a 20.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Bandrowczak acquired 5,100 shares of Galaxy Digital stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $19.63 per share, with a total value of $100,113.00. Following the completion of the purchase, the director owned 39,186 shares of the company's stock, valued at approximately $769,221.18. This represents a 14.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 51.53% of the company's stock.

Hedge Funds Weigh In On Galaxy Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Galaxy Digital during the second quarter worth $1,456,000. State Street Corp boosted its position in shares of Galaxy Digital by 99.7% during the second quarter. State Street Corp now owns 3,833,993 shares of the company's stock worth $104,821,000 after acquiring an additional 1,913,688 shares during the last quarter. Riposte Capital LLC bought a new position in shares of Galaxy Digital during the first quarter worth $2,952,000. Bank of America Corp DE boosted its position in shares of Galaxy Digital by 112.4% during the second quarter. Bank of America Corp DE now owns 1,145,172 shares of the company's stock worth $31,309,000 after acquiring an additional 605,986 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Galaxy Digital during the second quarter worth $1,227,000.

Trending Headlines about Galaxy Digital

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

• Positive Sentiment: Galaxy reported third-quarter adjusted EPS of $0.83, well above the $0.27–$0.29 analyst consensus, with quarterly revenue of approximately $8.69 billion. The company also reported roughly $323 million in net income, helped by a rebound in the value of its investments. Galaxy Announces Third Quarter 2026 Financial Results
• Positive Sentiment: Management highlighted growth in AI-related data-center operations and the Helios project during the earnings call, strengthening the case that Galaxy is diversifying beyond cryptocurrency trading and investments. Galaxy Digital Earnings Call Highlights AI and Helios Growth
• Positive Sentiment: Chardan Capital reaffirmed its Buy rating and set a $35 price target, implying substantial upside from the stock’s recent $17.18 reference price.
• Neutral Sentiment: The earnings beat is notable, but EPS declined from $1.12 in the year-ago quarter, underscoring Galaxy’s continued sensitivity to cryptocurrency markets, investment valuations and trading conditions. Galaxy Digital Q3 Earnings Top Estimates
• Negative Sentiment: BTIG lowered its price target from $45 to $35, and Rosenblatt cut its target from $35 to $30. Both firms retained Buy ratings, but the reductions suggest more cautious expectations despite the long-term upside.
• Negative Sentiment: GLXY has fallen sharply in recent months and is trading below its 50-day and 200-day moving averages, reflecting persistent investor concerns about volatility and the company’s exposure to crypto-market cycles.

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.