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H.C. Wainwright Raises Galaxy Digital’s Price Target to $39 Ahead of Nasdaq Uplisting
Financial firm H.C. Wainwright has upgraded its price target for Galaxy Digital Holdings, setting it at $39, up from the previous target of $30. This move comes just days before the company, led by billionaire Mike Novogratz, is slated for its long-awaited uplisting on Nasdaq, scheduled for May 16.
Galaxy Digital, a leader in crypto financial services and AI infrastructure, is currently trading at $32.09 per share. Despite reporting a substantial net loss of $295 million in the first quarter of 2025, analysts at H.C. Wainwright remain optimistic about the firm’s growth potential. They identified challenging macroeconomic conditions in the cryptocurrency sector as a key factor behind the losses but highlighted upcoming opportunities, including the Nasdaq listing, as catalysts for future growth.
Why the Nasdaq Listing Matters
Being listed on a major exchange like Nasdaq is a significant milestone for any company, signaling increased prestige and trustworthiness to investors. For Galaxy Digital, this move not only enhances its credibility but also expands its accessibility to a broader range of investors. The company’s shares will soon be available on popular retail trading platforms such as Robinhood and eToro, making it easier for individual investors to participate.
Key Benefits of the Uplisting
- Increased Visibility: The Nasdaq listing will provide Galaxy Digital with greater exposure to institutional and retail investors.
- Enhanced Liquidity: Being listed on a major exchange often leads to higher trading volumes, improving liquidity for shareholders.
- Credibility Boost: Nasdaq’s stringent listing requirements add an extra layer of trust for potential investors.
Growth Potential in 2025
Analysts believe Galaxy Digital is well-positioned to capitalize on a potential rebound in cryptocurrency prices during the second half of 2025. The company’s diversified business model, which includes client-facing digital asset services and a sizable crypto portfolio, makes it a key player in the evolving crypto and blockchain landscape.
“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,” said analysts at H.C. Wainwright.
AI Data Centers: A Revenue Driver
Beyond its core cryptocurrency services, Galaxy Digital is set to earn substantial revenue from its artificial intelligence (AI) data center operations. The company recently secured a major contract with CoreWeave, valued at approximately $13 million in revenues over the next 15 years. This diversification into AI infrastructure strengthens Galaxy Digital’s position as a forward-thinking, tech-driven enterprise.
Future Outlook
As the cryptocurrency market matures and regulatory clarity improves, Galaxy Digital is poised to benefit from increased institutional adoption and a broader acceptance of blockchain technology. The combination of its Nasdaq uplisting, diversified revenue streams, and strategic positioning in both crypto and AI sectors make it a compelling option for investors looking to tap into the future of finance.
