Brokers Issue Forecasts for Galaxy Digital FY2025 Earnings

Galaxy Digital Inc. (NASDAQ:GLXY) – Atb Cap Markets boosted their FY2025 earnings per share (EPS) estimates for Galaxy Digital in a report released on Sunday, October 19th. Atb Cap Markets analyst M. Toner now anticipates that the company will earn $0.50 per share for the year, up from their previous forecast of $0.42.

Several other equities research analysts also recently issued reports on GLXY. Benchmark increased their price target on Galaxy Digital from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their price objective on Galaxy Digital from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Jefferies Financial Group began coverage on Galaxy Digital in a report on Wednesday, July 23rd. They set a “buy” rating and a $35.00 price objective for the company. Rosenblatt Securities increased their price objective on Galaxy Digital from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group increased their price objective on Galaxy Digital from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $40.50.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $42.86 on Tuesday. Galaxy Digital has a 1 year low of $8.20 and a 1 year high of $45.92. The stock has a 50-day simple moving average of $31.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. The business had revenue of $8.66 billion during the quarter, compared to the consensus estimate of $13.11 billion.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, insider Christopher C. Ferraro sold 750,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $27,000,000.00. Following the completion of the transaction, the insider directly owned 687,921 shares in the company, valued at $24,765,156. This trade represents a 52.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Erin Elizabeth Brown sold 350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total value of $9,443,000.00. Following the completion of the transaction, the chief operating officer owned 198,088 shares of the company’s stock, valued at approximately $5,344,414.24. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,183,333 shares of company stock valued at $146,851,323.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. bought a new position in Galaxy Digital in the second quarter valued at approximately $113,435,000. Invesco Ltd. bought a new position in Galaxy Digital in the second quarter valued at approximately $53,233,000. Tidal Investments LLC bought a new position in Galaxy Digital in the second quarter valued at approximately $48,452,000. Geode Capital Management LLC bought a new position in Galaxy Digital in the second quarter valued at approximately $43,525,000. Finally, Marshall Wace LLP bought a new position in shares of Galaxy Digital during the 2nd quarter worth approximately $35,568,000.

About Galaxy Digital

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.