Bullish (NYSE:BLSH) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bullish from “sell” to “hold,” while broader analyst sentiment remains “Hold,” with four Buy, seven Hold and two Sell ratings and an average price target of $50.67.
• Bullish shares opened at $21.88, near their 52-week low of $20.55 and well below the $118.00 high. The company’s latest quarter delivered 48.8% year-over-year revenue growth to $92.83 million but missed earnings expectations and posted a deeply negative 314.4% net margin.
• Investors are awaiting Bullish’s second-quarter 2026 results on August 13; recent insider selling by CEO Thomas Farley and reported reductions by Ark Invest could weigh on sentiment ahead of the release.

Bullish (NYSE:BLSH - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Monday.

A number of other equities research analysts also recently commented on BLSH. JPMorgan Chase & Co. lowered their price objective on Bullish from $43.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 16th. Cantor Fitzgerald raised their price target on Bullish from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Weiss Ratings restated a "sell (d)" rating on shares of Bullish in a report on Wednesday, June 24th. Rosenblatt Securities upped their price objective on shares of Bullish from $39.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $61.00 price objective on shares of Bullish in a report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $50.67.

Bullish Stock Up 0.4%

Shares of NYSE BLSH opened at $21.88 on Monday. The firm has a market cap of $3.30 billion and a P/E ratio of -3.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. Bullish has a 1 year low of $20.55 and a 1 year high of $118.00. The firm's 50 day moving average price is $26.07 and its 200 day moving average price is $32.80.

Bullish (NYSE:BLSH - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business had revenue of $92.83 million during the quarter. Bullish's quarterly revenue was up 48.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bullish will post 0.54 earnings per share for the current year.

Insider Buying and Selling at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $43.95, for a total value of $3,516,000.00. Following the transaction, the chief executive officer directly owned 80,000 shares of the company's stock, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Bullish

A number of large investors have recently modified their holdings of BLSH. Rakuten Securities Inc. acquired a new position in shares of Bullish in the 4th quarter valued at about $28,000. Essential Partners LLC purchased a new position in Bullish in the first quarter valued at approximately $27,000. MetLife Investment Management LLC purchased a new position in Bullish in the fourth quarter valued at approximately $30,000. Strs Ohio acquired a new position in Bullish during the fourth quarter valued at approximately $30,000. Finally, SteelPeak Wealth LLC lifted its position in Bullish by 13.5% during the first quarter. SteelPeak Wealth LLC now owns 8,577 shares of the company's stock valued at $306,000 after buying an additional 1,019 shares in the last quarter.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish will release its second-quarter 2026 results on August 13 before hosting an earnings conference call at 8:30 a.m. ET. The scheduled event gives investors a near-term catalyst to assess trading volumes, revenue growth, profitability and management’s outlook. Bullish to announce second quarter 2026 financial results
• Neutral Sentiment: The company disclosed approximately 159.6 million fully diluted shares based on the June 30 closing price, versus 160.7 million shares calculated using the second-quarter average price. The release also highlighted Bullish Exchange, its MiCAR-regulated European operations and CoinDesk, but offered no preliminary Q2 financial figures or forecast. Bullish Announces Second Quarter 2026 Earnings Release Date and Conference Call
• Negative Sentiment: Ark Invest reportedly trimmed its positions in Bullish along with other crypto-related holdings, adding to potential supply pressure and signaling reduced exposure from a notable thematic investor. Cathie Wood’s Ark Invest trims crypto-related holdings
• Negative Sentiment: Quiver’s data shows Bullish CEO Thomas Farley made nine open-market sales totaling about 160,494 shares over the past six months, with no reported purchases. This insider-selling pattern may weigh on sentiment, although the transactions do not necessarily indicate a change in the company’s fundamentals.
• Negative Sentiment: The company’s previous reported quarter showed strong year-over-year revenue growth but missed the consensus earnings estimate and posted a deeply negative net margin. Investors may therefore be looking for evidence that growth is translating into sustainable profitability when Q2 results are released.

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.

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