Analyst Ed Engel of Compass Point maintained a Buy rating on Galaxy Digital, retaining the price target of $43.00.
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Ed Engel’s rating is based on several compelling factors that highlight Galaxy Digital’s strong financial performance and growth potential. The company reported a third-quarter EBIT that exceeded market expectations by over 200%, driven by robust results from its operating business. This impressive performance is further underscored by a significant increase in EBITDA to $250 million, marking the highest level since the company began disclosing its results.
Additionally, Galaxy Digital’s Assets on Platform (AuP) saw a substantial 70% quarter-over-quarter increase, providing a solid foundation for recurring revenue in the coming quarters. The confirmation that the Helios Phase 1 project remains on schedule for the first half of 2026 adds to the positive outlook. Furthermore, the company’s digital asset trading volumes surged by 140% quarter-over-quarter, indicating strong market engagement. These factors, combined with the potential for increased valuation through discussions with Hyperscalers, contribute to Engel’s Buy rating for Galaxy Digital.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $42.00 price target.