CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-05-14 19:19:42

Novogratz’s Galaxy Digital gets upgraded buy rating ahead of Nasdaq listing

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. You might also like: Bitcoin’s April gains reflect growing hedge appeal in policy stress, Galaxy Digital says Galaxy Digital has strong growth potential, analysts state A 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. You might also like: The crypto bull run is here: top 3 altcoins to buy and hold 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. Read more: Bitcoin miners may find better returns in AI than crypto, Novogratz’s Galaxy Digital suggests

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta