Galaxy Digital Announces First Public Offering of Class A Common Stock

Galaxy Digital ( (TSE:GLXY) ) has shared an update.

Galaxy Digital Inc. announced its first underwritten public offering of 29 million shares of Class A common stock on the Nasdaq Global Select Market. The proceeds from the offering will be used to expand its artificial intelligence and high-performance computing infrastructure at its Helios data center in West Texas, enhancing its market position in digital assets and data center infrastructure.

The most recent analyst rating on (TSE:GLXY) stock is a Buy with a C$23.00 price target. To see the full list of analyst forecasts on Galaxy Digital stock, see the TSE:GLXY Stock Forecast page.

Spark’s Take on TSE:GLXY Stock

According to Spark, TipRanks’ AI Analyst, TSE:GLXY is a Outperform.

Galaxy Digital Holdings is well-positioned with strong profitability, a robust balance sheet, and strategic growth initiatives in AI and digital assets. The upcoming Nasdaq listing and UK expansion are significant positives. However, revenue volatility, cash management issues, and recent crypto market challenges weigh on the score. The technical analysis indicates potential near-term volatility, and the valuation reflects both optimism and inherent risks. Overall, while the company has a solid foundation for future growth, investors should remain cautious of market volatility and regulatory challenges.

To see Spark’s full report on TSE:GLXY stock, click here.

More about Galaxy Digital

Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, providing solutions that advance finance and artificial intelligence. The company offers a digital assets platform with institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology, and invests in cutting-edge data center infrastructure.

Average Trading Volume: 1,344,886

Technical Sentiment Signal: Buy

Current Market Cap: C$10.92B

See more insights into GLXY stock on TipRanks’ Stock Analysis page.