H.C. Wainwright analyst Mike Colonnese reiterated a Buy rating on Galaxy Digital today and set a price target of $40.00.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Mike Colonnese has given his Buy rating due to a combination of factors tied to Galaxy Digital’s resilient core operations and emerging growth drivers. He highlights that, despite a weak crypto backdrop with falling token prices and lower industry trading volumes, Galaxy’s trading business held volumes steady and the firm delivered upside versus expectations, underscoring the durability of its franchise.
At the same time, Colonnese points to on-track execution in the Helios data center build‑out, including timely delivery of the first data hall to CoreWeave and a Phase I anchor tenant that materially reduces project risk and supports potential refinancing. He also emphasizes the long‑term upside from Galaxy’s digital infrastructure solutions platform, where strengthening partnerships with major financial institutions, supported by the GK8 technology stack, and a solid balance sheet position the company to capitalize on expanding institutional adoption of digital assets while maintaining a $40 price target.
In another report released on April 26, Chardan Capital also initiated coverage with a Buy rating on the stock with a $35.00 price target.