Bullish (NYSE:BLSH) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bullish from a sell to a hold rating, adding to a mixed analyst picture that currently averages out to a hold. The stock now has an average target price of $50.67 based on MarketBeat data.
• Bullish shares were trading at $22.48, near their 52-week low of $21.76 and well below the 52-week high of $118.00. The company has a market cap of about $3.39 billion and remains below its 50-day and 200-day moving averages.
• The company’s latest quarterly results showed revenue growth of 48.8% year over year to $92.83 million, but earnings of $0.13 per share missed estimates. CEO Thomas W. Farley also sold 80,000 shares in May, cutting his ownership by 50%.

Bullish (NYSE:BLSH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $61.00 price target on shares of Bullish in a research note on Friday, May 15th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Bullish in a report on Wednesday, June 24th. Zacks Research lowered shares of Bullish from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Cantor Fitzgerald increased their target price on Bullish from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. reduced their target price on Bullish from $43.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bullish has an average rating of "Hold" and an average target price of $50.67.

Bullish Stock Performance

NYSE BLSH opened at $22.48 on Friday. Bullish has a 1 year low of $21.76 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The stock has a market capitalization of $3.39 billion and a PE ratio of -3.43. The company's 50 day simple moving average is $29.12 and its two-hundred day simple moving average is $33.99.

Bullish (NYSE:BLSH - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The firm's quarterly revenue was up 48.8% compared to the same quarter last year. Analysts predict that Bullish will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Thomas W. Farley sold 80,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Bullish

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essential Partners LLC purchased a new stake in Bullish during the 1st quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in shares of Bullish during the fourth quarter worth about $28,000. Strs Ohio bought a new stake in shares of Bullish in the fourth quarter worth about $30,000. MetLife Investment Management LLC bought a new position in Bullish during the 4th quarter valued at approximately $30,000. Finally, Kestra Advisory Services LLC purchased a new stake in Bullish in the 4th quarter worth approximately $61,000.

Key Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: BlackRock CEO Larry Fink said he is “very bullish” on markets and noted that bitcoin and the broader crypto market have become more stable after leverage washed out, which could support sentiment for crypto-related stocks like Bullish. Article: Blackrock CEO Larry Fink ‘Very Bullish’ on Markets as Bitcoin Stabilizes
• Neutral Sentiment: Several headlines showed Wall Street turning bullish on other large-cap names, including Apple, 3M, Moody’s, Cintas, Rambus, and Johnson & Johnson, but these updates do not directly affect Bullish’s fundamentals.
• Negative Sentiment: Taiwan Semiconductor’s strong results still failed to stop its stock from falling amid a global AI selloff, reinforcing a broader risk-off tone that can pressure speculative and momentum-driven stocks such as Bullish. Article: Taiwan Semiconductor Posts 34% Q2 Revenue Growth; Analyst Raises Price Target On ‘Highly Bullish’ Investment Outlook
• Negative Sentiment: Analyst downgrades on names like ONEOK and Etsy add to the cautious tone around equities, suggesting investors are more selective with risk assets today.

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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