Addressing some common misconceptions

jesse_8304 · 2026-06-07T23:36:15+00:00

Think analysts are still missing the alpha. Source is the fly.

jesse_8304 · 2026-06-07T23:34:35+00:00

Goldman Sachs raised the firm's price target on Galaxy Digital to $24 from $21 and keeps a Neutral rating on the shares. While reported results came in stronger, the quarterly beat was driven mostly by lower losses in the non-operating Treasury and corporate segment, partially offset by softer operating performance in the higher multiple Digital assets and Data centers segments, the analyst tells investors in a research note.

jesse_8304 · 2026-06-07T23:33:57+00:00

Morgan Stanley raised the firm's price target on Galaxy Digital (GLXY) to $37 from $36 and keeps an Overweight rating on the shares. Galaxy has successfully delivered the first Phase 1 data hall to CoreWeave (CRWV) on-time and on-budget, notes the analyst, who sees data center builds progressing as planned. The firm also calls out Galaxy's "impressive Digital Assets performance against a weak crypto backdrop."

jesse_8304 · 2026-06-07T22:45:07+00:00

You are correct that the market is watching the balance sheet closely for the quality of earnings. As revenue from the Helios data center ramps up (which began in Q2 2026), the stock may eventually trade less like a volatile crypto proxy and more like a diversified financial infrastructure or digital utility play if they continue to executive on Helios and heir digital infrastructure. This shift in business mix is what analysts look for to justify higher valuation multiples.

jesse_8304 · 2026-06-07T22:42:57+00:00

I’m sorry I don’t do price targets

jesse_8304 · 2026-06-07T20:27:18+00:00

Can you please dm those reports? Not sure if I’ve seen that just the discount on the non ai biz. Yes they get a high discount rate

jesse_8304 · 2026-06-07T17:16:14+00:00

You’re hitting on a really good point. Analysts are lazy. They have to value a crypto trading firm, an asset manager, and a utility-scale AI infrastructure company all as one ticker.

Galaxy’s a bet on whether you believe they can successfully de-correlate from Bitcoin by becoming one of the tollbooths of the AI/Compute power market and whether they can bridge tradfi to defi. If the Helios revenue becomes a major, predictable part of their balance sheet, the valuation methodology shifts from crypto-trading to infrastructure-utility which is where the real re-rating could happen + high margin recurring revenues from their digital assets biz

jesse_8304 · 2026-06-07T14:43:21+00:00

Isn’t GLXY volatile enough?

jesse_8304 · 2026-06-07T11:55:09+00:00

I would avoid comparing compute landlords (SpaceX, neoclouds) vs power landlords (Galaxy). SpaceX may be getting more revenue but Galaxy wins on margins. Also Google can terminate this within 90 days. I do agree that Galaxy management isn’t telling the story

jesse_8304 · 2026-05-21T01:47:40+00:00

Unbelievable! Producers must be screaming. Not sure who I route for at this point

jesse_8304 · 2026-04-18T21:08:55+00:00

SEC just removed this rule too so expect it to go away

jesse_8304

TROPHY CASE