Galaxy Digital Inc. (NASDAQ:GLXY) Receives $45.23 Consensus Target Price from Brokerages

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $45.2308.

A number of analysts have weighed in on GLXY shares. Canaccord Genuity Group reissued a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Galaxy Digital in a report on Monday, December 29th. JMP Securities set a $60.00 target price on Galaxy Digital in a research report on Tuesday, December 9th. Cantor Fitzgerald lowered their target price on Galaxy Digital from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, The Goldman Sachs Group cut their price target on Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average cost of $20.80 per share, with a total value of $520,000.00. Following the purchase, the director owned 59,000 shares in the company, valued at $1,227,200. This represents a 73.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Galaxy Digital

A number of hedge funds have recently added to or reduced their stakes in GLXY. CWM LLC boosted its position in shares of Galaxy Digital by 20.8% during the third quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after buying an additional 244 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after acquiring an additional 411 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in Galaxy Digital by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after acquiring an additional 728 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of Galaxy Digital by 6.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock worth $461,000 after acquiring an additional 867 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Galaxy Digital by 6.7% in the third quarter. Raymond James Financial Inc. now owns 13,768 shares of the company’s stock valued at $465,000 after purchasing an additional 868 shares during the last quarter.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $21.19 on Friday. The company has a 50 day moving average of $26.31 and a 200-day moving average of $29.11. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $45.92. The company has a market cap of $8.28 billion and a PE ratio of 176.58.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Tuesday, February 3rd. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.24) by $0.16. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $13.08 billion.

About Galaxy Digital

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.