Galaxy Digital Holdings Ltd.'s stock surged 5.11% during intraday trading on Tuesday, continuing its recent positive momentum.
The significant price increase follows the company's strong first-quarter financial results, which substantially exceeded market expectations. Galaxy Digital reported an adjusted EPS loss of $0.49, beating the consensus estimate of a $0.95 loss by 48.42%. Quarterly revenue reached $10.041 billion, surpassing the market estimate of $9.544 billion.
Positive assessments from investment banks have further fueled investor optimism. Chardan initiated coverage with a Buy rating and a $35 target price, while Morgan Stanley raised its target from $36 to $37, maintaining an Overweight rating. The average analyst target price has risen to $41.06, well above the current trading level.
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