Key insights
- Citizens maintained a Market Outperform rating and $55 price target on Galaxy Digital (GLXY) following its launch of an institutional prediction markets desk. This move, alongside Interactive Brokers' unified interface and Wintermute's entry as a liquidity provider, signals growing institutional interest in prediction markets. While GLXY remains unprofitable and volatile, its prominent position in capital markets supports the analyst's optimistic outlook, suggesting potential upside.
Investing.com - Citizens maintained its Market Outperform rating and $55.00 price target on Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) shares.
The firm’s action follows Galaxy Digital’s launch of an institutional over-the-counter prediction markets desk. The company completed a $10 million trade tied to the CLARITY Act outcome.
Interactive Brokers launched a unified prediction markets interface across Kalshi, ForecastEx, and CME Group. Wintermute entered the space as a professional liquidity provider.
Citizens analyst Devin Ryan commented on the developments. "Galaxy (GLXY, MO, $55 PT) launched an institutional OTC Prediction Markets desk and completed a $10M trade tied to the CLARITY Act outcome, Interactive Brokers launched a unified Prediction Markets interface across Kalshi, ForecastEx, and CME Group, and Wintermute entered as a professional liquidity provider," Ryan said.
The stock currently trades at $31.48, suggesting significant upside to the $55 price target. Galaxy has delivered a strong 47% return over the past year, though InvestingPro data shows the company remains unprofitable with a beta of 3.6, reflecting high volatility typical of crypto-exposed equities. An InvestingPro Tip notes that Galaxy is a "prominent player in the Capital Markets industry," positioning it well for institutional prediction market opportunities. For deeper insights, including 6 additional ProTips and comprehensive financial analysis, investors can access Galaxy’s detailed Pro Research Report on InvestingPro.The $55.00 price target remains unchanged from Citizens’ previous assessment of Galaxy Digital.
In other recent news, Galaxy Digital Inc. announced the launch of its institutional over-the-counter prediction markets trading through its Global Markets trading desk. This new service allows institutional clients such as hedge funds and family offices to access prediction market liquidity on a larger scale, covering various event-driven markets. Additionally, Galaxy Digital has received a BitLicense and Money Transmission License from the New York State Department of Financial Services, allowing it to offer digital asset services to institutions across the state.
Galaxy Digital is also among the first participants in Digital Prime Technologies’ newly launched Tokenet, an institutional digital asset lending platform. Furthermore, Galaxy Digital and Sharplink Inc. have entered into a non-binding memorandum of understanding to form the Galaxy Sharplink Onchain Yield Fund, LP, with a planned $125 million in commitments. The fund will see $100 million from Sharplink’s staked Ethereum treasury and $25 million from Galaxy, with Galaxy serving as the investment manager.
Compass Point has raised its price target for Galaxy Digital shares to $41 from $40, maintaining a Buy rating. Analyst Ed Engel noted that first-quarter results have eased concerns regarding Galaxy Digital’s 3.5 gigawatt high-performance computing pipeline. These developments highlight Galaxy Digital’s ongoing efforts to expand its offerings and strengthen its market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for GLXY plus thousands of other stocks and find your next hidden gem with massive upside.