Galaxy Digital (NASDAQ:GLXY) Price Target Cut to $35.00 by Analysts at BTIG Research

Key Points

• BTIG Research cut Galaxy Digital’s price target from $45 to $35 while maintaining a “Buy” rating, implying substantial upside from the stock’s prior close.
• Analyst sentiment remains broadly positive, with 11 Buy, two Hold, and one Sell rating; the consensus target is $35.67, although several firms have recently reduced their targets.
• Galaxy Digital’s latest quarterly results exceeded expectations with EPS of $0.83 versus a $0.29 consensus estimate, but profitability remains a concern due to negative margins, negative return on equity, and an expected full-year loss.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) had its price objective dropped by equities researchers at BTIG Research from $45.00 to $35.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target points to a potential upside of 123.21% from the company's previous close.

GLXY has been the topic of several other research reports. Rosenblatt Securities lowered their price objective on Galaxy Digital from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday. Citigroup raised shares of Galaxy Digital from a "neutral" rating to a "buy" rating and boosted their target price for the company from $26.00 to $28.00 in a research report on Tuesday, October 13th. Chardan Capital restated a "buy" rating and issued a $35.00 price target on shares of Galaxy Digital in a research note on Wednesday, August 5th. Piper Sandler lowered their price target on shares of Galaxy Digital from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 20th. Finally, Morgan Stanley dropped their price objective on shares of Galaxy Digital from $48.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Galaxy Digital has an average rating of "Moderate Buy" and a consensus target price of $35.67.

Galaxy Digital Price Performance

Shares of NASDAQ GLXY opened at $15.68 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. Galaxy Digital has a 12 month low of $14.19 and a 12 month high of $41.25. The stock has a 50 day moving average of $22.31 and a 200-day moving average of $24.42.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $8.69 billion for the quarter. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. On average, equities analysts expect that Galaxy Digital will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Galaxy Digital

In related news, Director Steven Bandrowczak acquired 5,100 shares of the company's stock in a transaction on 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 acquisition, the director directly owned 39,186 shares of the company's stock, valued at approximately $769,221.18. The trade was a 14.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Friedrich sold 4,993 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total value 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. The trade was 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. Insiders own 51.53% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLXY. State Street Corp grew its stake in 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 buying an additional 1,913,688 shares in the last quarter. Moore Capital Management LP raised its position in shares of Galaxy Digital by 52.9% in the 2nd quarter. Moore Capital Management LP now owns 2,082,250 shares of the company's stock valued at $56,929,000 after buying an additional 720,000 shares in the last quarter. Sullivan Wood Capital Management LLC lifted its holdings in shares of Galaxy Digital by 4.0% during the 3rd quarter. Sullivan Wood Capital Management LLC now owns 1,460,546 shares of the company's stock worth $33,213,000 after acquiring an additional 55,804 shares during the period. Bank of America Corp DE lifted its holdings in shares of Galaxy Digital by 112.4% during the 2nd 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 period. Finally, Anson Funds Management LP bought a new stake in shares of Galaxy Digital during the 1st quarter worth approximately $11,070,000.

Key Galaxy Digital News

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

• Positive Sentiment: Q3 earnings significantly exceeded expectations. Galaxy Digital reported adjusted EPS of $0.83, well above the FactSet consensus estimate of $0.27. The earnings surprise suggests improved profitability and helped support the stock’s rebound. Earnings Flash: Galaxy Digital Q3 Adjusted EPS
• Positive Sentiment: The company released its third-quarter financial results. Galaxy Digital reported results for the three and nine months ended September 30, 2026, giving investors updated visibility into its financial performance. Galaxy Announces Third Quarter 2026 Financial Results
• Neutral Sentiment: Rosenblatt maintained a Buy rating but lowered its price target. The target was reduced from $35 to $30, signaling continued analyst confidence but also reflecting more cautious valuation assumptions. Rosenblatt Securities Stock Recommendations
• Neutral Sentiment: Short-interest data showed no reported shares short. The reported zero short interest may reduce concerns about active bearish positioning, although the figure provides limited insight into future trading.
• Negative Sentiment: Underlying profitability remains a concern. Despite the quarterly EPS beat, Galaxy Digital was reported to have a negative net margin of 0.75% and negative return on equity of 6.25%, while analysts expect a loss for the full fiscal year.
• Negative Sentiment: The stock entered the earnings release under significant pressure. Shares had fallen more than 68% from their 2025 peak and were near their lowest level since April 2025, leaving investors focused on whether the earnings improvement can be sustained. Galaxy Digital Stock and Earnings Outlook

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.

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