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Citizens cuts Galaxy Digital stock price target on crypto headwinds By Investing.com

Reported by Ukvesting ·Cavesting ·Investing
Apr 10, 2026· 3 min read
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Key Takeaways
  • • Citizens lowered its Galaxy Digital price target to $55 from $60 while maintaining a Market Outperform rating, citing crypto market headwinds affecting near-term sentiment despite maintaining conviction in the company's long-term thesis.
  • • Galaxy Digital received ERCOT (Electric Reliability Council of Texas) approval for an additional 830 megawatts of computing demand at its Helios campus in West Texas, bringing total facility capacity to approximately 1.6 gigawatts and de-risking the infrastructure expansion strategy.
  • • The Helios data center is valued by management at over $15 billion with CoreWeave as anchor tenant generating over $1 billion in expected annual revenue, representing a multi-hundred-billion-dollar infrastructure vision for the company's pivot toward AI infrastructure.
  • • Galaxy Digital stock surged 11% on April 9 following the annual report disclosure and broader crypto rally driven by US-Iran ceasefire and Bitcoin's rise above $72,000, though Compass Point simultaneously reduced its target to $46 from $51 despite maintaining a Buy rating.
  • • Galaxy Digital announced a $1 billion offering of exchangeable senior notes due 2031 and secured $100 million in investment for a new crypto fund launching Q1 2026, signaling capital raise for growth initiatives and debt refinancing.
Summary
Citizens reduced its Galaxy Digital price target to $55 from $60 per share on April 10, 2026, while reiterating a Market Outperform rating. The adjustment reflects near-term cryptocurrency market headwinds, though the analyst maintained confidence in the company's underlying investment thesis and significant upside potential from current trading levels. At the time of the cut, Galaxy Digital traded at $21.17 in pre-market activity, suggesting the $55 target implies approximately 160% upside for investors.

The price target reduction came amid a broader rally in Galaxy Digital shares, which surged 11% on April 9 following the release of the company's first annual report as a Nasdaq-listed entity. The report unveiled an ambitious multi-hundred-billion-dollar infrastructure vision centered on the Helios data center in West Texas. Management valued Helios at over $15 billion, with CoreWeave as the primary anchor tenant, expected to generate over $1 billion in average annual revenue. The facility has secured approximately 1.6 gigawatts of total power capacity following ERCOT approval for an additional 830 megawatts of computing demand announced on April 8—a development Citizens characterized as a "step-function" de-risking event confirming the investment thesis is materializing as expected.

Despite the price target cut, analyst sentiment remained constructive. Compass Point lowered its target to $46 from $51 while maintaining a Buy rating, noting the ERCOT approval eliminated investor concerns about partial load study approvals and increased confidence in the company's remaining 1.9 gigawatt pipeline. Goldman Sachs, however, reduced its target to $24 from $27 with a Neutral rating, and Cantor Fitzgerald trimmed its target to $30 from $48 despite maintaining an Overweight rating. The analyst consensus score stood at 1.43 (strong buy), with Galaxy Digital trading at a notably elevated P/E ratio of 44.48 and beta of 3.88, reflecting high volatility typical of crypto-exposed infrastructure plays.

Galaxy Digital's capital structure expanded with a $1 billion offering of exchangeable senior notes due 2031, proceeds designated for growth initiatives and potential repayment of existing 2026 maturities. Separately, the company secured $100 million in investment for a new cryptocurrency fund launching in Q1 2026, sourced from family offices, high-net-worth individuals, and institutional investors. The company's stock performance reflected a complex backdrop: up 44% year-to-date despite Q1 weakness, with the April 9 surge amplified by a broader cryptocurrency risk-on environment following the US-Iran ceasefire and Bitcoin's advance above $72,000, driving sector-wide equity appreciation alongside peers like Coinbase.

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Ukvesting Citizens cuts Galaxy Digital stock price target on crypto headwinds By Investing.com Cavesting Citizens cuts Galaxy Digital stock price target on crypto headwinds By Investing.com - Investing.com Canada Investing Citizens cuts Galaxy Digital stock price target on crypto headwinds