Brokerages Set Galaxy Digital Inc. (NASDAQ:GLXY) Target Price at $46.00

Galaxy Digital Inc. (NASDAQ:GLXY) has received an average rating of “Buy” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $46.00.

A number of analysts have issued reports on the company. Citizens Jmp assumed coverage on Galaxy Digital in a research note on Tuesday, December 9th. They issued a “market outperform” rating and a $60.00 target price for the company. JMP Securities set a $60.00 price objective on shares of Galaxy Digital in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Galaxy Digital in a research note on Monday, December 29th. BTIG Research increased their price target on shares of Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Canaccord Genuity Group raised their price target on shares of Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd.

Galaxy Digital Trading Up 5.1%

Shares of Galaxy Digital stock opened at $28.19 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $25.97 and its 200-day simple moving average is $28.55. The stock has a market cap of $11.01 billion and a P/E ratio of 23.49. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.74. The company had revenue of $28.40 billion for the quarter, compared to analysts’ expectations of $19.85 billion. During the same quarter in the previous year, the business posted ($0.16) EPS.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason bought 10,000 shares of Galaxy Digital stock in a transaction on Friday, November 7th. The shares were bought at an average price of $29.59 per share, for a total transaction of $295,900.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $295,900. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of Galaxy Digital

A number of hedge funds and other institutional investors have recently modified their holdings of GLXY. CWM LLC purchased a new stake in Galaxy Digital in the 2nd quarter valued at about $26,000. Manchester Capital Management LLC purchased a new stake in shares of Galaxy Digital in the 2nd quarter valued at approximately $32,000. Centerpoint Advisors LLC acquired a new position in shares of Galaxy Digital in the 2nd quarter worth approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Galaxy Digital during the 2nd quarter worth approximately $34,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Galaxy Digital during the 3rd quarter worth approximately $34,000.

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.