Bullish (NYSE:BLSH) Stock Price Target Cut by Keefe, Bruyette & Woods

Bullish (NYSE:BLSH) had its target price cut by Keefe, Bruyette & Woods from $55.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 11.15% from the stock’s previous close.

BLSH has been the topic of several other reports. Compass Point upgraded shares of Bullish from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $51.00 in a research note on Monday, September 14th. UBS Group set a $43.00 target price on Bullish in a report on Monday, September 21st. Zacks Research upgraded Bullish from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Citigroup reaffirmed a “buy” rating on shares of Bullish in a research report on Monday, July 27th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $45.00 target price on shares of Bullish in a research report on Wednesday, September 23rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.30.

Bullish Trading Down 4.2%

Shares of BLSH stock opened at $35.99 on Tuesday. The stock has a market capitalization of $5.43 billion and a P/E ratio of -3.89. Bullish has a fifty-two week low of $20.55 and a fifty-two week high of $70.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.41 and a current ratio of 23.52. The company has a 50 day moving average price of $30.18 and a 200 day moving average price of $32.30.

Bullish (NYSE:BLSH) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $92.62 million during the quarter. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. Equities research analysts predict that Bullish will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Bullish

A number of hedge funds have recently added to or reduced their stakes in the company. Essential Partners LLC purchased a new stake in Bullish in the 1st quarter valued at approximately $27,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Bullish in the 2nd quarter valued at approximately $59,000. Global Assets Advisory LLC acquired a new position in Bullish during the first quarter worth $134,000. SG Americas Securities LLC purchased a new position in shares of Bullish in the 1st quarter valued at about $143,000. Finally, SummitTX Capital L.P. acquired a new stake in shares of Bullish during the 1st quarter valued at approximately $201,000.

About Bullish

Bullish is a digital asset exchange and financial technology company that provides infrastructure and trading services for the cryptocurrency market. Its platform is designed to serve institutional and professional investors, offering access to digital asset trading and related market services.

The company’s activities include spot cryptocurrency trading, custody and portfolio-management tools, lending services, and market data. Bullish emphasizes institutional-grade infrastructure, liquidity, security and regulatory compliance in the operation of its digital asset marketplace.

Bullish was founded in 2021 and was established with backing from Block.one and other investors.