Novogratz’s Galaxy Digital gets upgraded buy rating ahead of Nasdaq listing
By: cryptosheadlines|2025/05/14 23:15:05
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com H.C. Wainwright, one of the most prestigious financial firms in the U.S., upgraded Galaxy Digital’s price target to $39.Mike Novogratz’s Galaxy Digital Holdings is riding high ahead of its uplisting on Nasdaq. On Wednesday, May 14, financial firm H.C. Wainwright reaffirmed its Buy rating on Galaxy Digital, raising its price target from $30 to $39.The crypto financial services and AI infrastructure firm, owned by billionaire Mike Novogratz, currently trades at $32.09 per share. The decision came despite underwhelming financial results for the first quarter of 2025, when the firm posted a $295 million net loss. These were, as H.C. Wainwright explained, partially due to challenging macro conditions for crypto firms. However, the financial firm pointed to strong potential for growth in the short term, as well as the upcoming listing on Nasdaq, set for May 16. So far, Galaxy Digital has been listed on the Toronto Stock Exchange. Galaxy Digital has strong growth potential, analysts stateA listing on a more prestigious exchange is a signal to investors about the prestige and trustworthiness of a company. At the same time, Galaxy Digital will benefit from the fact that it will be available on retail trading apps, including Robinhood and eToro. What is more, the company is expected to benefit from the expected rebound in crypto assets in the second quarter of 2025. This is both due to the services it offers in the space, as well as its own crypto assets. “We believe Galaxy’s client-facing digital asset businesses and the company’s large crypto portfolio are poised to benefit from rising prices in 2H25, as the industry benefits from greater regulatory clarity and growing institutional adoption,” H.C. Wainwright. What is more, Galaxy Digital is expected to earn significant revenue from its AI data centers. For instance, the company has secured a contract with CoreWeave, worth approximately $13 million in revenues for the next 15 years. Source link
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