Galaxy Digital (GLXY), a digital asset firm, reported an outperformance of its Q3 earnings. According to their report, the company’s gross revenue was $29.2 billion and a net income of $505 million, a whopping 1,546% increase from Q2. As a result, institutions have reiterated their overweight rating on the company shares.

Galaxy Digital reported gross revenue surpassed both Jefferies’ estimate of $22.8 billion and the Street consensus of $17.2 billion. In addition, it has also surpassed ATB Capital Markets analyst Martin Toner’s expectations of a total revenue of $21.2 billion.

Management credited a sharp increase in digital asset volumes, up 140% from Q2, as a key factor in the profit jump. The Global Markets segment posted a record adjusted gross profit of $295 million, driven by robust spot and derivatives trading, as well as the execution of a $9 billion Bitcoin sale, comprising approximately 80,000 BTC, on behalf of a client.

Brokers and analysts hike Galaxy’s stock price target to nearly $60

Broker Cantor reiterated its overweight rating on Galaxy shares and raised its price target to $53 from $45. It has attributed the revision primarily to a higher valuation for the company’s data center business.

Cantor also cited strong performance across its digital asset operations and growing institutional adoption as key tailwinds. The broker noted that Galaxy’s digital asset business is “operating on all cylinders” and stands to benefit as more traditional players enter the crypto ecosystem.

Additionally, Canaccord Genuity increased its Galaxy price target to $50 from $34 and maintained its buy rating on the stock. According to analysts led by Joseph Vafi, the company is a solid and diversified play across two of the most exciting growth sectors: crypto-related financial services and data centers. It also boasts one of the best-evolving portfolios focused on AI hosting.

Wall Street broker Benchmark also raised its price target on Galaxy to $57 from $40, and reaffirmed its buy rating. Analyst Mark Palmer stated that the higher target reflects the firm’s updated sum-of-the-parts analysis, which now factors in Galaxy’s AI data center operations, along with its trading, lending, staking, asset management, and crypto holdings.

Jefferies has also reiterated its buy rating and $45.00 price target on Galaxy Digital. Other analysts have maintained a buy rating and predicted a price of up to $80.

Galaxy Digital Q3 performance

Galaxy reported that the total platform assets reached $17 billion at the quarter’s end, with $8.8 billion in assets under management and $6.6 billion under stake. The company held $1,137M in cash and cash equivalents and $773M in stablecoins as of September 30, 2025. This is a 62% increase from Q2.

Capital for operations was supported by a $460 million equity investment from a leading global asset manager.  $325 million in net proceeds was earmarked for Helios campus expansion and corporate objectives.

Additionally, new multi-year digital asset mandates from treasury clients added $4.5 billion in assets, supporting annual recurring fee revenue exceeding $40 million. Galaxy’s recent launch of the GalaxyOne platform in October now provides individual US investors with access to high-yield cash, crypto, and equity trading.

Galaxy Digital is met by the volatility challenge

With the report of its Q3 results, the shares of Galaxy Digital were actively traded. In 24 hours, its shares increased by more than 8%, with a trading volume exceeding 16 million shares. Galaxy Digital is experiencing a strong performance in 2025, with an 82.55% year-to-date increase.

However, with a beta of 3.85, investors should note that the stock’s volatility is higher than that of the broader market. Market fluctuations in cryptocurrency prices can result in significant changes in trading revenue and asset values. This increases the risk for investors looking for consistent returns.

Galaxy Digital now faces pressure to show that its business expansion will lead to long-term profits. Meanwhile, the stock is trading at $36.81, a decline from the pre-market price of over $40.

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