Bullish (NYSE:BLSH) Receives $52.08 Consensus PT from Brokerages

Shares of Bullish (NYSE:BLSH) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $52.0833.

Several research analysts have issued reports on BLSH shares. Rosenblatt Securities dropped their target price on Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Wall Street Zen raised shares of Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $50.00 price target on shares of Bullish in a research report on Tuesday, January 6th.

Bullish Price Performance

Shares of BLSH opened at $37.23 on Monday. The firm has a fifty day simple moving average of $34.51 and a two-hundred day simple moving average of $45.69. The firm has a market cap of $5.44 billion and a PE ratio of 372.34. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. Bullish has a 1-year low of $24.79 and a 1-year high of $118.00.

Bullish (NYSE:BLSH) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing the consensus estimate of $0.16 by ($3.89). The firm had revenue of $92.50 million during the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.Bullish’s revenue for the quarter was up 67.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 earnings per share.

Key Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish officially became the third-largest crypto exchange for spot trading (now ahead of Coinbase in spot market share), a concrete growth milestone that supports higher trading volumes and revenue potential. Bullish Stock (BLSH) Ticks Up as Exchange Becomes Third-Largest, Beating Coinbase
• Positive Sentiment: Bullish’s leadership and visibility at major industry events (Bullish CEO Tom Farley is on the CoinDesk Consensus speaker list) raises the company’s profile with institutional investors and partners, which can help business development and trust. CoinDesk’s Consensus Conference Returns to the U.S.; Speaker Line Up Includes Paul Atkins, Bo Hines, Brad Garlinghouse, Anatoly Yakovenko, Alex Rodriguez, and More
• Neutral Sentiment: Broader crypto flows: reports of continued institutional conviction in Ethereum and resilient ETP holdings suggest institutional demand for crypto exposure remains intact, which is an industry tailwind for exchanges like Bullish but not company-specific. Institutional Conviction Fuels Bullish Ethereum Outlook Despite Brutal Crypto Selloff
• Negative Sentiment: Offsetting risk: Bullish reported a large quarterly EPS miss (reported loss vs. analyst expectations) and still carries a very high P/E on current earnings — fundamentals and profitability concerns could limit upside and leave the stock sensitive to future execution misses and crypto market volatility.

Hedge Funds Weigh In On Bullish

Several institutional investors and hedge funds have recently bought and sold shares of BLSH. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Bullish in the 3rd quarter worth approximately $91,782,000. Nwam LLC bought a new position in shares of Bullish in the third quarter worth approximately $4,540,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Bullish in the third quarter worth approximately $2,723,000. Monashee Investment Management LLC purchased a new stake in shares of Bullish in the third quarter worth $3,180,000. Finally, Renaissance Capital LLC purchased a new stake in shares of Bullish in the third quarter worth $2,436,000.

Bullish Company Profile

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.