Bullish (NYSE:BLSH) Receives $51.92 Consensus Price Target from Analysts

Bullish (NYSE:BLSH) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $51.9167.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Rosenblatt Securities decreased their price objective on Bullish from $52.00 to $39.00 and set a “buy” rating for the company in a report on Friday, February 6th. Citigroup lowered their target price on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $50.00 target price on shares of Bullish in a report on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Bullish from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new stake in shares of Bullish in the 3rd quarter worth about $10,423,000. CWM LLC acquired a new position in Bullish during the 3rd quarter valued at about $31,000. Albion Financial Group UT acquired a new position in Bullish during the 3rd quarter valued at about $64,000. Renaissance Capital LLC bought a new stake in Bullish during the 3rd quarter worth approximately $2,436,000. Finally, Tradewinds Capital Management LLC bought a new stake in Bullish during the 3rd quarter worth approximately $25,000.

Bullish Trading Down 0.1%

Shares of BLSH stock opened at $36.33 on Friday. The company has a market cap of $5.48 billion and a P/E ratio of 363.25. Bullish has a fifty-two week low of $24.79 and a fifty-two week high of $118.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. The stock has a 50 day simple moving average of $33.92 and a two-hundred day simple moving average of $43.32.

Bullish (NYSE:BLSH) last announced its quarterly earnings data on Friday, February 6th. The company reported ($3.73) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($3.89). The company had revenue of $92.51 million for the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The company’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS.

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.