Galaxy Digital's (GLXY) Overweight Rating Reiterated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated an overweight rating on Galaxy Digital with a $30 price objective, implying roughly a 3.9% upside from the current share price.
• Analyst views are mixed but the consensus is a Moderate Buy with an average target of $39.50, while individual targets range widely (about $21 to $42) and several firms have recently adjusted ratings.
• Shares traded at $28.88 after Galaxy reported Q results (EPS -$0.49, beating estimates, revenue $7.35B) but remains unprofitable; Director Douglas R. Deason bought 25,000 shares and insiders collectively own 51.53% of the stock.

Galaxy Digital (NASDAQ:GLXY - Get Free Report)'s stock had its "overweight" rating restated by Cantor Fitzgerald in a note issued to investors on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock. Cantor Fitzgerald's price target points to a potential upside of 3.89% from the stock's current price.

Several other equities research analysts have also recently commented on GLXY. The Goldman Sachs Group lowered their price target on shares of Galaxy Digital from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, April 8th. Piper Sandler cut their price target on shares of Galaxy Digital from $42.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Galaxy Digital from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Morgan Stanley reiterated an "overweight" rating and issued a $37.00 price objective on shares of Galaxy Digital in a report on Wednesday. Finally, Citigroup boosted their target price on Galaxy Digital from $25.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $39.50.

Galaxy Digital Price Performance

Shares of Galaxy Digital stock traded up $1.44 during trading on Friday, hitting $28.88. 2,685,353 shares of the company's stock traded hands, compared to its average volume of 6,312,575. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.60 and a quick ratio of 1.60. The firm's fifty day moving average price is $22.01 and its 200 day moving average price is $26.10. 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 $11.24 billion and a PE ratio of -60.10.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.27%. The business had revenue of $7.35 billion for the quarter. During the same period in the previous year, the company posted ($0.86) EPS. Analysts forecast that Galaxy Digital will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In other Galaxy Digital news, Director Douglas R. Deason bought 25,000 shares of Galaxy Digital stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average cost of $20.80 per share, with a total value of $520,000.00. Following the completion of the purchase, the director owned 59,000 shares of the company's stock, valued at approximately $1,227,200. This represents a 73.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 51.53% of the company's stock.

Hedge Funds Weigh In On Galaxy Digital

Several hedge funds have recently made changes to their positions in GLXY. Caitong International Asset Management Co. Ltd increased its stake in shares of Galaxy Digital by 183.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company's stock valued at $32,000 after buying an additional 928 shares during the period. North Star Investment Management Corp. purchased a new position in shares of Galaxy Digital during the third quarter valued at approximately $34,000. Picton Mahoney Asset Management increased its stake in shares of Galaxy Digital by 200.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company's stock valued at $34,000 after buying an additional 1,000 shares during the period. ORG Partners LLC increased its stake in shares of Galaxy Digital by 1,110.0% during the third quarter. ORG Partners LLC now owns 968 shares of the company's stock valued at $36,000 after buying an additional 888 shares during the period. Finally, Danske Bank A S purchased a new position in shares of Galaxy Digital during the fourth quarter valued at approximately $36,000.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. NASDAQ: GLXY is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.

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