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Investing.com - Jefferies has reiterated its Buy rating and $45.00 price target on Galaxy Digital (NASDAQ:GLXY), a $15 billion market cap digital asset firm, following the company’s third-quarter results that exceeded expectations. InvestingPro data shows the stock has delivered an impressive 175% return over the past year, though it recently experienced an 8.5% decline last week.
Galaxy Digital reported gross revenue of $29.2 billion for the third quarter, surpassing both Jefferies’ estimate of $22.8 billion and the Street consensus of $17.2 billion. The strong performance was driven by a 140% quarter-over-quarter increase in digital asset trading, which included a significant $9 billion Bitcoin trade. With a beta of 3.85, investors should note the stock’s high volatility compared to the broader market.
The company’s key performance indicators improved across its digital assets business, with digital platform assets reaching a record $17 billion, up from $9 billion in the previous period.
Beyond its core digital assets operations, Galaxy Digital secured $460 million from an asset manager to support its data center expansion efforts. The company also reported that construction of its Helios facility remains on schedule.
Jefferies noted that the strong quarterly performance positions Galaxy Digital favorably as it approaches year-end.
In other recent news, Galaxy Digital Inc. reported record profits for the third quarter of 2025. The company experienced substantial increases in both net income and adjusted EBITDA, marking its best quarter to date. This financial performance underscores the effectiveness of Galaxy Digital’s strategic initiatives. Analysts have noted the company’s strong financial results as a positive indicator for future growth. The announcement of these record earnings has caught the attention of investors and market analysts alike. While the company’s stock saw a notable increase following the news, it is the financial metrics themselves that highlight the company’s robust performance. These developments are the latest in a series of positive news for Galaxy Digital.
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