HC Wainwright Issues Pessimistic Forecast for Galaxy Digital (NASDAQ:GLXY) Stock Price

Key Points

• HC Wainwright lowered Galaxy Digital’s price target from $40 to $36 but maintained a Buy rating, implying 109.55% upside from the prior close.
• Other brokerages also reduced their targets, although analyst sentiment remains favorable: 11 analysts rate the stock Buy, two Hold, and one Sell, with a consensus target of $35.29.
• Galaxy Digital reported quarterly EPS of $0.83, beating the $0.29 consensus estimate, but the stock opened at $17.18 and remains below its 50-day and 200-day moving averages, reflecting significant volatility and crypto-market exposure.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) had its target price dropped by investment analysts at HC Wainwright from $40.00 to $36.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 109.55% from the company's previous close.

A number of other brokerages have also recently issued reports on GLXY. The Goldman Sachs Group set a $20.50 target price on Galaxy Digital in a report on Tuesday. Piper Sandler cut 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. Maxim Group reduced their price objective 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. BTIG Research decreased their price objective on shares of Galaxy Digital from $45.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Morgan Stanley decreased their price objective 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. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Galaxy Digital currently has an average rating of "Moderate Buy" and a consensus target price of $35.29.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $17.18 on Wednesday. The firm has a fifty day moving average of $22.10 and a two-hundred day moving average of $24.33. 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 has a 52 week low of $14.19 and a 52 week high of $38.54.

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

Insiders Place Their Bets

In related news, insider Matthew Friedrich sold 4,993 shares of the business's stock in a transaction that occurred 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 approximately $7,454,387.46. The trade was a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Bandrowczak bought 5,100 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were acquired 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 in the company, valued at $769,221.18. This represents a 14.96% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 51.53% of the company's stock.

Institutional Investors Weigh In On Galaxy Digital

Several large investors have recently made changes to their positions in GLXY. State Street Corp increased its holdings in Galaxy Digital by 99.7% during the 2nd quarter. State Street Corp now owns 3,833,993 shares of the company's stock worth $104,821,000 after purchasing an additional 1,913,688 shares in the last quarter. Moore Capital Management LP grew its holdings in shares of Galaxy Digital by 52.9% during the second quarter. Moore Capital Management LP now owns 2,082,250 shares of the company's stock worth $56,929,000 after buying an additional 720,000 shares in the last quarter. Sullivan Wood Capital Management LLC raised its position in Galaxy Digital by 4.0% in the 3rd quarter. Sullivan Wood Capital Management LLC now owns 1,460,546 shares of the company's stock valued at $33,213,000 after buying an additional 55,804 shares during the last quarter. Bank of America Corp DE lifted its stake in Galaxy Digital by 112.4% in the 2nd quarter. Bank of America Corp DE now owns 1,145,172 shares of the company's stock valued at $31,309,000 after acquiring an additional 605,986 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new stake in Galaxy Digital in the 2nd quarter valued at approximately $12,221,000.

Galaxy Digital News Summary

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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.