Key Takeaways
- • Citi upgraded Galaxy Digital (Nasdaq: GLXY) from Neutral to Buy on October 13, 2026, and raised its price target from USD 26.00 to USD 28.00, according to CNBC.
- • The new target implies roughly 53% upside from the USD 18.25 last price on October 15, 2026, though publisher sources cite a smaller implied upside of about 7.7% against a different reference price.
- • Galaxy reported a second-quarter 2026 GAAP net loss of USD 85.00 million (USD 0.09 per share) and firm-wide adjusted EBITDA of negative USD 77.00 million.
- • The stock trades about 60% below its 52-week high of USD 45.92 and about 11% above its 52-week low of USD 16.40, with a market capitalization of USD 6.1 billion.
- • The next scheduled catalyst is the third-quarter report before the Nasdaq open on October 27, 2026, followed by an 8:30 a.m. ET investor call.
Summary
Citi upgraded Galaxy Digital Inc. to Buy from Neutral and raised its price target to USD 28.00 from USD 26.00 on October 13, 2026, as CNBC reported. Citi pointed to the company's infrastructure strategy as a basis for the more constructive view, according to the primary source. The upgrade was attributed to analyst Peter Christiansen in secondary coverage.
At the time of the update, Galaxy Digital closed at USD 18.25 on Nasdaq on October 15, 2026, up 1.78 percent from the prior close of USD 17.93 on October 14. The new target sits about 53.42 percent above that price. Trading volume reached 12,803,995 shares, versus an average of 5,816,240 shares. The stock is USD 1.85 above its 52-week low of USD 16.40 and USD 27.67 below its 52-week high of USD 45.92.
The upgrade arrives against a weak recent earnings backdrop. Galaxy reported a GAAP net loss of USD 85.00 million, or USD 0.09 per share, in the second quarter of 2026, with firm-wide adjusted EBITDA of negative USD 77.00 million, according to a Benzinga transcript published October 8, 2026. The company's trailing P/E ratio stood at negative 30.42, reflecting the recent loss rather than a conventional earnings multiple. Market capitalization was USD 6.1 billion.
Against peers, Galaxy's October 15 move trailed Coinbase Global (up 6.32 percent, market capitalization USD 48.5 billion) and Robinhood Markets (up 2.88 percent, market capitalization USD 93.5 billion). The next scheduled checkpoint is the third-quarter report before the Nasdaq open on October 27, 2026, with an 8:30 a.m. ET investor call to follow, per Market Chameleon.
At the time of the update, Galaxy Digital closed at USD 18.25 on Nasdaq on October 15, 2026, up 1.78 percent from the prior close of USD 17.93 on October 14. The new target sits about 53.42 percent above that price. Trading volume reached 12,803,995 shares, versus an average of 5,816,240 shares. The stock is USD 1.85 above its 52-week low of USD 16.40 and USD 27.67 below its 52-week high of USD 45.92.
The upgrade arrives against a weak recent earnings backdrop. Galaxy reported a GAAP net loss of USD 85.00 million, or USD 0.09 per share, in the second quarter of 2026, with firm-wide adjusted EBITDA of negative USD 77.00 million, according to a Benzinga transcript published October 8, 2026. The company's trailing P/E ratio stood at negative 30.42, reflecting the recent loss rather than a conventional earnings multiple. Market capitalization was USD 6.1 billion.
Against peers, Galaxy's October 15 move trailed Coinbase Global (up 6.32 percent, market capitalization USD 48.5 billion) and Robinhood Markets (up 2.88 percent, market capitalization USD 93.5 billion). The next scheduled checkpoint is the third-quarter report before the Nasdaq open on October 27, 2026, with an 8:30 a.m. ET investor call to follow, per Market Chameleon.
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