Why Is GALAXY DIGITAL INC A (GLXY) Stock Up Today?

GLXY stock is up 6.64% at $22.48 as of the latest trade, driven by renewed analyst optimism and strategic developments at Galaxy Digital. Rosenblatt reiterates its Buy rating with a $35 price target, citing the ramp-up of the Helios business and contracted CoreWeave capacity set to contribute revenue. The stock opened at $20.98 and reached an intraday high of $22.57 before settling near the high at $22.48 on 0.6 million shares, which is 0.1x the 3-month daily average.

What Happened

The Motley Fool published the Q2 2026 earnings call transcript, in which Galaxy Digital CEO Mike Novogratz discussed the expansion of the Helios business and digital asset infrastructure. This, combined with Rosenblatt’s recent analysis, has fueled investor interest. The analyst firm highlighted that while near-term earnings may be weaker and ERCOT reviews remain a risk, the long-term potential of Galaxy’s infrastructure and CoreWeave integration offers a 74% upside from current levels. Additionally, Galaxy announced a $125 million partnership with Sharplink, and the two firms launched the Galaxy Sharplink Onchain Yield Fund, which is expected to attract institutional capital.

What The Data Shows

Despite a TTM revenue increase of 1,713%, Galaxy remains unprofitable with an EPS TTM of -1.74 and a net margin of -0.5%. The stock has traded between $16.43 and $45.92 over the past 52 weeks. Over the last 8 sessions, the stock declined 2.3% from $21.88 to $21.37. In terms of insider activity, one director purchased $100K worth of shares in the last 90 days, while executives sold $15.8M. Unusual options activity included a notable put premium of $165K in the last 36 hours.

What To Watch

Galaxy Digital is set to report Q2 2026 earnings, with the call transcript already published. Coverage breadth and institutional flows into the Sharplink Onchain Yield Fund will be key to watch in the coming weeks.