Bullish (NYSE:BLSH) Stock Has Average Target Price of $45.89 According to Brokerages

Bullish (NYSE:BLSH) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $44.64.

BLSH has been the topic of several recent analyst reports. Rosenblatt Securities cut their price target on shares of Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Citigroup restated a “buy” rating on shares of Bullish in a report on Monday, July 27th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $45.00 target price on shares of Bullish in a research report on Wednesday, September 23rd. Finally, Compass Point upgraded Bullish from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $51.00 in a research report on Monday, September 14th.

Institutional Trading of Bullish

Hedge funds and other institutional investors have recently modified their holdings of the business. Essential Partners LLC purchased a new position in shares of Bullish in the 1st quarter worth about $27,000. SteelPeak Wealth LLC grew its position in Bullish by 13.5% during the 1st quarter. SteelPeak Wealth LLC now owns 8,577 shares of the company’s stock valued at $306,000 after purchasing an additional 1,019 shares during the last quarter. Lazard Asset Management LLC increased its stake in Bullish by 1.4% during the 1st quarter. Lazard Asset Management LLC now owns 136,453 shares of the company’s stock valued at $4,875,000 after purchasing an additional 1,871 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Bullish in the second quarter worth about $59,000. Finally, Cetera Investment Advisers lifted its stake in shares of Bullish by 14.5% in the first quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock worth $816,000 after buying an additional 2,884 shares in the last quarter.

Bullish Stock Down 0.5%

Shares of NYSE:BLSH opened at $34.72 on Friday. The stock’s 50-day moving average is $30.83 and its 200 day moving average is $32.26. The company has a market cap of $5.24 billion, a PE ratio of -3.75 and a beta of 0.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41. Bullish has a 1 year low of $20.55 and a 1 year high of $70.50.

Bullish (NYSE:BLSH) last posted its earnings results on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $92.62 million for the quarter. Bullish had a positive return on equity of 2.48% and a negative net margin of 389.38%.Bullish’s revenue was up 62.5% compared to the same quarter last year. Sell-side analysts anticipate that Bullish will post 0.46 EPS for the current year.

Bullish News Summary

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Brokerages cited in a recent report assign Bullish an average price target of $45.89, implying meaningful upside from the stock’s recent trading level. This target may help support investor interest, although it is not a guarantee of future performance. Bullish Stock Has Average Price Target of $45.89 According to Brokerages
• Neutral Sentiment: Reports comparing Bullish with industry peers offer relative-performance and valuation context, but the available summaries do not disclose a material change in earnings expectations, operations or analyst ratings. Comparing Bullish and Its Peers Contrasting Bullish and Its Peers
• Negative Sentiment: Keefe, Bruyette & Woods issued a pessimistic forecast for Bullish (BLSH). The report’s cautious outlook likely weighs on the shares by highlighting downside risk and offsetting the more optimistic consensus price target. Keefe, Bruyette and Woods Issues Pessimistic Forecast for Bullish Stock Price

Bullish Company Profile

Bullish is a digital asset financial services company that operates a regulated cryptocurrency exchange and related market infrastructure. Its platform is designed to serve institutional and professional investors by providing access to spot digital asset trading, custody, lending and other trading services.

The company also develops technology intended to support deeper liquidity, transparent price discovery and efficient execution in cryptocurrency markets. Bullish has operated internationally, serving customers and market participants across multiple global jurisdictions, subject to applicable regulatory requirements.

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