Galaxy Digital (NASDAQ:GLXY) Stock Jumps 6% Following Earnings Beat

Key Points

• Galaxy Digital shares rose 6% after the company reported third-quarter adjusted EPS of $0.83, far exceeding the roughly $0.27–$0.29 consensus estimate. Revenue reached approximately $8.69 billion, with net income of about $323 million.
• The company announced a new share-repurchase program and highlighted expansion in AI and data-center infrastructure, including the Helios project, potentially diversifying revenue beyond cryptocurrency activities.
• Analysts remain broadly positive, with 11 Buy ratings and an average price target of $35.29, but several firms recently cut their targets. Results remain vulnerable to cryptocurrency and investment-market volatility.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report)'s share price traded up 6% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $18.24 and last traded at $18.21. Approximately 1,815,327 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,362,558 shares. The stock had previously closed at $17.18.

The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.54. The company had revenue of $8.69 billion during the quarter.

Galaxy Digital News Roundup

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

• Positive Sentiment: Galaxy Digital reported third-quarter adjusted earnings of $0.83 per share, well above the $0.27-$0.29 consensus estimates. Revenue reached approximately $8.69 billion, while reported net income was about $323 million, supported in part by a rebound in the value of the company’s investments. Galaxy Announces Third Quarter 2026 Financial Results
• Positive Sentiment: The company announced a new share-repurchase program, giving management a way to return capital to shareholders and potentially support the stock after its substantial recent pullback. Galaxy Digital Stock Rises After Q3 Profit and New Buyback
• Positive Sentiment: Management highlighted growth in its AI and data-center business, including the Helios project. Investors appear encouraged that Galaxy is expanding beyond cryptocurrency trading and investment activities into potentially recurring infrastructure revenue. Galaxy Digital Earnings Call Highlights AI and Helios Growth
• Positive Sentiment: Canaccord Genuity, HC Wainwright, Chardan Capital and BTIG Research all maintained buy ratings. Their price targets range from $35 to $50, signaling substantial potential upside in the analysts’ models despite recent target reductions by some firms.
• Neutral Sentiment: The earnings beat partly reflects investment gains and remains sensitive to cryptocurrency and broader market conditions. Galaxy also remains unprofitable on some full-year forecast measures, so results may be volatile.
• Negative Sentiment: BTIG lowered its target to $35 from $45, while HC Wainwright reduced its target to $36 from $40. These cuts suggest analysts remain cautious about valuation, execution and the durability of the recent recovery.

Wall Street Analysts Forecast Growth

GLXY has been the subject of several recent analyst reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $50.00 target price on shares of Galaxy Digital in a research note on Wednesday. Chardan Capital reaffirmed a "buy" rating and set a $35.00 price objective on shares of Galaxy Digital in a research note on Tuesday. Piper Sandler reduced 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. Morgan Stanley lowered their price objective on Galaxy Digital from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Friday, October 9th. Finally, Maxim Group reduced their target price on Galaxy Digital from $46.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.29.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason acquired 12,000 shares of Galaxy Digital stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average price 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 of the company's stock, valued at approximately $1,529,340. This represents a 20.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Bandrowczak purchased 5,100 shares of Galaxy Digital stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the transaction, 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 position. The disclosure for this purchase is available in the SEC filing. 51.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Galaxy Digital

A number of hedge funds have recently bought and sold shares of GLXY. State Street Corp raised its holdings in Galaxy Digital by 99.7% in the 2nd quarter. State Street Corp now owns 3,833,993 shares of the company's stock valued at $104,821,000 after acquiring an additional 1,913,688 shares during the last quarter. Moore Capital Management LP increased its holdings in Galaxy Digital by 52.9% during the 2nd quarter. Moore Capital Management LP now owns 2,082,250 shares of the company's stock worth $56,929,000 after purchasing an additional 720,000 shares during the period. Sullivan Wood Capital Management LLC lifted its stake in Galaxy Digital by 4.0% during the third quarter. Sullivan Wood Capital Management LLC now owns 1,460,546 shares of the company's stock worth $33,213,000 after purchasing an additional 55,804 shares during the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 605,986 shares during the period. Finally, Anson Funds Management LP acquired a new stake in shares of Galaxy Digital in the first quarter valued at about $11,070,000.

Galaxy Digital Stock Performance

The stock has a market cap of $7.11 billion, a PE ratio of -28.00 and a beta of 5.11. The business has a 50-day moving average of $22.10 and a 200 day moving average of $24.33.

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.

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