Galaxy Digital (NASDAQ:GLXY) Given New $36.00 Price Target at Piper Sandler

Galaxy Digital (NASDAQ:GLXY) had its target price cut by Piper Sandler from $42.00 to $36.00 in a research report report published on Tuesday morning, Marketbeat reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on GLXY. Canaccord Genuity Group reiterated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research note on Friday, January 30th. Morgan Stanley dropped their price objective on Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Citigroup upped their price objective on Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Cantor Fitzgerald dropped their price objective on Galaxy Digital from $48.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $46.00 price objective on shares of Galaxy Digital in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.31.

Galaxy Digital Trading Down 6.9%

NASDAQ GLXY opened at $24.95 on Tuesday. The stock has a market capitalization of $9.71 billion and a price-to-earnings ratio of 207.92. The stock’s 50 day moving average price is $21.32 and its two-hundred day moving average price is $26.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.60 and a current ratio of 1.60. Galaxy Digital has a 52 week low of $11.00 and a 52 week high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.16. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $13.08 billion. As a group, analysts anticipate that Galaxy Digital will post -0.4 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its stake in Galaxy Digital by 183.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock valued at $32,000 after acquiring an additional 928 shares during the period. North Star Investment Management Corp. bought a new stake in Galaxy Digital in the 3rd quarter valued at $34,000. Picton Mahoney Asset Management raised its stake in Galaxy Digital by 200.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. ORG Partners LLC raised its stake in Galaxy Digital by 1,110.0% in the 3rd quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after acquiring an additional 888 shares during the period. Finally, Danske Bank A S bought a new stake in Galaxy Digital in the 4th quarter valued at $36,000.

Galaxy Digital Company Profile

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.