Galaxy Digital Inc. (NASDAQ:GLXY) Receives $40.31 Consensus PT from Analysts

Galaxy Digital Inc. (NASDAQ:GLXY) has received an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $39.7692.

Several equities research analysts have recently commented on GLXY shares. BTIG Research reissued a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a report on Tuesday, April 14th. Citizens Jmp cut their price objective on Galaxy Digital from $60.00 to $55.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. Weiss Ratings downgraded Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Piper Sandler cut their price objective on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $39.00 price objective on shares of Galaxy Digital in a report on Thursday.

Insiders Place Their Bets

In other Galaxy Digital 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 price of $20.80 per share, for a total transaction of $520,000.00. Following the purchase, the director owned 59,000 shares in the company, valued at approximately $1,227,200. The trade was a 73.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Galaxy Digital

A number of large investors have recently added to or reduced their stakes in GLXY. JPMorgan Chase & Co. bought a new stake in Galaxy Digital in the 2nd quarter valued at $80,000. Invesco Ltd. bought a new stake in Galaxy Digital in the 2nd quarter valued at $53,233,000. EverSource Wealth Advisors LLC bought a new stake in Galaxy Digital in the 2nd quarter valued at $116,000. First Trust Advisors LP bought a new stake in Galaxy Digital in the 2nd quarter valued at $13,376,000. Finally, Cerity Partners LLC bought a new stake in Galaxy Digital in the 2nd quarter valued at $219,000.

Galaxy Digital Trading Down 1.1%

NASDAQ GLXY opened at $26.00 on Wednesday. The company has a market cap of $10.12 billion and a PE ratio of 216.67. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80. Galaxy Digital has a 12 month low of $14.30 and a 12 month high of $45.92. The stock has a 50 day moving average of $21.66 and a 200-day moving average of $26.51.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.24) by $0.16. The company had revenue of $10.22 billion during the quarter, compared to analyst estimates of $13.08 billion. On average, equities research analysts anticipate that Galaxy Digital will post -0.56 EPS for the current fiscal year.

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.