Mike Colonnese, an analyst from H.C. Wainwright, reiterated the Buy rating on Galaxy Digital. The associated price target was raised to C$63.00.
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Mike Colonnese has given his Buy rating due to a combination of factors, including Galaxy Digital’s impressive performance in the third quarter of 2025, where the company reported substantial growth across its digital asset businesses. The firm achieved record quarterly results, significantly surpassing consensus forecasts, with $505 million in net income and $629 million in adjusted EBITDA. This strong performance is attributed to the nearly doubling of total assets on the platform, reaching $17 billion, as Galaxy continues to attract institutional capital.
Additionally, the launch of GalaxyOne, the company’s first direct-to-consumer retail offering, has shown promising initial traction, opening up a new long-term market. Despite recent declines in the total crypto market cap, Colonnese remains optimistic about digital asset prices for the remainder of the fourth quarter, driven by strong institutional demand and regulatory support. Furthermore, the anticipated revenue generation from the Helios data center project, expected to commence in the first quarter of 2026, adds to the positive outlook. Galaxy’s strategic partnerships and successful capital raising efforts further bolster its growth prospects, reinforcing the Buy rating.
In another report released on October 23, Rosenblatt Securities also reiterated a Buy rating on the stock with a $46.00 price target.