Bullish (NYSE:BLSH) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Thirteen analysts give Bullish a consensus rating of "Hold" (1 sell, 8 hold, 4 buy) with an average 1‑year price target of about $51.92.
• Bullish posted a sharp EPS miss last quarter (reported ($3.73) EPS vs $0.16 expected) despite revenue rising 67.6% year‑over‑year, and the shares trade around $38.80 with a market cap near $5.85 billion and a very high P/E.
• Insider activity: CEO Thomas W. Farley sold 80,000 shares at an average of $36.41 for roughly $2.91 million, reducing his stake by about 1.6%.

Shares of Bullish (NYSE:BLSH - Get Free Report) have received a consensus rating of "Hold" from the thirteen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $51.9167.

Several research firms have recently issued reports on BLSH. Weiss Ratings reiterated a "sell (d)" rating on shares of Bullish in a report on Friday, March 27th. Rosenblatt Securities reiterated a "neutral" rating and issued a $39.00 price objective on shares of Bullish in a report on Thursday, April 9th. JPMorgan Chase & Co. decreased their price objective on shares of Bullish from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, February 6th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $50.00 price objective on shares of Bullish in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Bullish from a "sell" rating to a "hold" rating in a report on Monday, February 23rd.

Bullish Trading Down 2.9%

Bullish stock opened at $38.80 on Tuesday. The firm has a 50 day simple moving average of $36.86 and a 200-day simple moving average of $40.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 29.28 and a quick ratio of 27.69. The stock has a market capitalization of $5.85 billion and a PE ratio of 388.01. Bullish has a 12-month low of $24.79 and a 12-month high of $118.00.

Bullish (NYSE:BLSH - Get Free Report) last posted its quarterly earnings data on Friday, February 6th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($3.89). The company had revenue of $92.51 million during the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. Bullish's quarterly revenue was up 67.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. As a group, equities research analysts expect that Bullish will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas W. Farley sold 80,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $36.41, for a total transaction of $2,912,800.00. Following the completion of the sale, the chief executive officer directly owned 4,923,386 shares in the company, valued at approximately $179,260,484.26. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of Bullish

A number of large investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC bought a new stake in Bullish during the third quarter worth approximately $25,000. Ameritas Advisory Services LLC bought a new stake in Bullish during the third quarter worth approximately $29,000. CWM LLC bought a new stake in Bullish during the third quarter worth approximately $31,000. 10Elms LLP bought a new stake in Bullish during the third quarter worth approximately $32,000. Finally, Tsfg LLC bought a new stake in Bullish during the third quarter worth approximately $45,000.

About Bullish

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.

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