TSX gains after CPI shows US inflation rose 3%
Investing.com - Rosenblatt raised its price target on Galaxy Digital (NASDAQ:GLXY) to $46.00 from $44.00 while maintaining a Buy rating following the company’s record quarterly performance. The stock, currently trading at $37.16, has shown remarkable momentum with a 200% return over the past year, according to InvestingPro data.
Galaxy Digital delivered a record quarter with higher-than-expected net revenue amplified by significant gains, according to Rosenblatt’s analysis. The firm noted that full details of the results will not be available until the 10-Q filing next month. InvestingPro data shows the company has achieved impressive growth, with the stock surging over 180% in the past six months despite characteristically high price volatility.
The research firm highlighted that Galaxy’s multiple institutionally-focused crypto businesses are effectively capitalizing on favorable market conditions. Rosenblatt believes this impressive quarter should help improve the narrative around the company. With a market capitalization of $14.2 billion and a current ratio of 1.34, Galaxy Digital maintains a solid financial position. Discover more insights and 8 additional ProTips with InvestingPro.
Rosenblatt emphasized that Galaxy Digital is "much more than an HPC play," referring to the company’s diversified business model beyond high-performance computing operations in the cryptocurrency space.
The new $46 price target is based on 23 times Rosenblatt’s 2027 estimated Adjusted EBITDA for Galaxy Digital, reflecting the firm’s increased estimates following the strong quarterly performance.
In other recent news, Galaxy Digital reported its best-ever quarter for digital asset trading operations, showcasing its role as a leading facilitator for institutional crypto adoption. The company announced gross revenue of $29.2 billion for the third quarter, surpassing Jefferies’ estimate of $22.8 billion and the Street consensus of $17.2 billion. This strong performance was primarily driven by a 140% quarter-over-quarter increase in digital asset trading, which included a notable $9 billion Bitcoin trade. Benchmark has raised its price target for Galaxy Digital to $57, maintaining a Buy rating following these impressive third-quarter results. Jefferies also reiterated its Buy rating and $45 price target, emphasizing the company’s strong financial performance. Galaxy Digital reported substantial increases in net income and adjusted EBITDA, marking a record profit for the third quarter of 2025. These developments reflect the confidence of investors and analysts alike in Galaxy Digital’s strategic initiatives and robust financial health.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.