Galaxy Digital

GLXY · TORONTO

$15.76+$0.04 (+0.25%)TodayMarket closed · Oct 20, 7:58 PM ET

Prev close $15.72

GLXY analyst rating

BuyConsensus of 12 analysts over the last 12 months. 92% rate it a buy.

Strong buy0
Buy11
Hold1
Underperform0
Sell0

12-month price target · 15 analysts

Average $33.62 (+113.3% upside)

Low: $22.06
Now: $15.76
High: $45.99

Upgrades and downgrades

The latest rating actions, newest first

GLXY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Oct 20, 2026	Maintains	Overweight	$33.00 → $25.00	60%
Citigroup	Oct 13, 2026	Upgrade	Neutral → Buy	$26.00 → $28.00	46%
Morgan Stanley	Oct 12, 2026	Maintains	Overweight	$48.00 → $43.00	57%
Morgan Stanley	Sep 3, 2026	Maintains	Overweight	$37.00 → $48.00	57%
Citigroup	Aug 19, 2026	Maintains	Neutral	$28.00 → $26.00	46%
BTIG	Aug 5, 2026	Maintains	Buy	$50.00 → $45.00	45%
Chardan Capital	Aug 5, 2026	Maintains	Buy	$35.00	15%
Rosenblatt	Aug 3, 2026	Maintains	Buy	$39.00 → $35.00	35%
Piper Sandler	Jul 17, 2026	Maintains	Overweight	$36.00 → $33.00	60%
BTIG	May 21, 2026	Maintains	Buy	$50.00	45%

The case for and against

Updated Oct 14, 2026

Bull case

Galaxy Digital is attractive because its business is becoming less dependent on volatile crypto market conditions while expanding higher-quality recurring revenues from trading, lending, asset management, staking, and tokenization. Its data center transformation is a major fundamental catalyst, with ~800MW contracted for HPC colocation, ~830MW of incremental approved capacity, and the first data hall already delivered in April, moving Helios from construction into monetization and supporting lease revenues in Q2/26. The company also has a fortified balance sheet with $2.6B in cash and net stablecoins, $1.4B in additional liquidity, and a proven ability to outperform expectations, as adjusted EBITDA and EPS were better than estimated despite a weak crypto backdrop.

Bear case

Galaxy Digital is viewed negatively because its earnings and valuation remain highly exposed to crypto market cycles, with trading, AUM, and AUS all vulnerable to declining token prices, volatility, and weaker institutional adoption. The company also faces material execution risk at Helios, where slower power infrastructure online timing or a delayed HPC contract start could push out revenue, while project financing covenants and capital-raising needs heighten balance-sheet pressure. Despite trading at ~20x EV/EBITDA on 2027 consensus EBITDA of about $613M, the stock’s upside depends on successful digital asset adoption, regulatory progress, and contracted power monetization that may not materialize as expected.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.