Galaxy Digital Inc. (GLXY) - What Are Analysts Saying About This Stock?

Key Points

• Analysts remain moderately bullish: Eleven of 14 analysts rate Galaxy Digital a buy, while three recommend holding the stock. The average 12-month price target is $39.33, well above its recent $19.71 opening price.
• Recent analyst actions were mixed, with Citigroup upgrading the stock to “buy” and Chardan Capital reaffirming its buy rating, while Piper Sandler and Morgan Stanley lowered their price targets but maintained overweight ratings.
• Galaxy Digital exceeded quarterly EPS expectations, reporting a loss of $0.09 per share versus the consensus estimate of a $0.36 loss, although the company continues to post negative net margins and return on equity. Insider ownership is substantial at 51.53%, with both insider buying and selling recently reported.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $39.33.

GLXY has been the topic of several analyst reports. Piper Sandler cut their price target on shares of Galaxy Digital from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Zacks Research raised shares of Galaxy Digital from a "strong sell" rating to a "hold" rating in a research note on Friday, September 18th. Citigroup upgraded 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. Chardan Capital reaffirmed a "buy" rating and set a $35.00 target price on shares of Galaxy Digital in a research note on Wednesday, August 5th. Finally, Morgan Stanley cut their target price on Galaxy Digital from $48.00 to $43.00 and set an "overweight" rating on the stock in a research note on Friday.

Galaxy Digital Trading Down 0.8%

Shares of GLXY opened at $19.71 on Wednesday. Galaxy Digital has a twelve month low of $16.43 and a twelve month high of $45.92. The company has a market cap of $7.70 billion, a P/E ratio of -30.32 and a beta of 5.11. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The company's fifty day simple moving average is $23.03 and its 200-day simple moving average is $25.07.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The firm had revenue of $8.71 billion during the quarter. During the same quarter last year, the business posted $0.08 EPS. As a group, analysts expect that Galaxy Digital will post -0.88 EPS for the current year.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason acquired 12,000 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $21.54 per share, with a total value of $258,480.00. Following the transaction, the director directly owned 71,000 shares of the company's stock, valued at $1,529,340. The trade was a 20.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 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 value of $134,960.79. Following the completion of the sale, the insider 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 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 owned by company insiders.

Institutional Trading of Galaxy Digital

A number of large investors have recently made changes to their positions in GLXY. Sullivan Wood Capital Management LLC increased its stake 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 worth $33,213,000 after buying an additional 55,804 shares during the period. GAMMA Investing LLC lifted its holdings in Galaxy Digital by 1,160.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,345 shares of the company's stock valued at $53,000 after buying an additional 2,159 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Galaxy Digital by 496.0% during the 3rd quarter. CoreCap Advisors LLC now owns 2,211 shares of the company's stock valued at $50,000 after buying an additional 1,840 shares in the last quarter. Versant Capital Management Inc purchased a new stake in Galaxy Digital in the 3rd quarter valued at about $72,000. Finally, QRG Capital Management Inc. boosted its position in Galaxy Digital by 19.6% in the 2nd quarter. QRG Capital Management Inc. now owns 15,791 shares of the company's stock valued at $432,000 after buying an additional 2,591 shares during the period.

About Galaxy Digital

Galaxy Digital NASDAQ: GLXY is a financial services and investment management company focused on digital assets, blockchain technology and related infrastructure. Founded in 2018 by Michael Novogratz, the company provides institutional clients with access to the digital asset ecosystem through trading, investment banking, asset management and principal investing activities.

Its services include spot and derivatives trading, lending and structured products, market making, capital raising and strategic advisory services for companies in the digital asset and blockchain sectors.

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