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

Key Points

• Bullish has a consensus “Hold” rating from 13 analysts: two recommend selling, seven rate it a hold, and four recommend buying. The average 12-month price target is $48.92.
• Recent analyst views have been mixed, with Rosenblatt cutting its price target to $30 and Zacks downgrading the stock to “strong sell,” while Citigroup maintained a “buy” rating and Cantor Fitzgerald raised its target to $43.
• Bullish reported quarterly EPS of $0.09, matching estimates, while revenue rose 62.5% year over year to $92.62 million. Shares opened at $32.93, with the stock trading far below its 52-week high of $74.98.

Shares of Bullish (NYSE:BLSH - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $48.9167.

BLSH has been the subject of several recent analyst reports. Weiss Ratings cut Bullish from a "sell (d)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. Citigroup reaffirmed a "buy" rating on shares of Bullish in a research report on Monday, July 27th. Rosenblatt Securities dropped their price target on shares of Bullish from $42.50 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, August 14th. Zacks Research lowered Bullish from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald lifted their price objective on shares of Bullish from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, May 15th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLSH. Essential Partners LLC bought a new stake in shares of Bullish in the first quarter valued at about $27,000. Strs Ohio acquired a new stake in Bullish during the fourth quarter valued at approximately $30,000. MetLife Investment Management LLC acquired a new position in shares of Bullish in the 4th quarter worth approximately $30,000. Kestra Advisory Services LLC bought a new stake in Bullish in the fourth quarter valued at $61,000. Finally, California State Teachers Retirement System bought a new stake in shares of Bullish in the 4th quarter worth about $78,000.

Bullish Trading Up 0.1%

Shares of NYSE:BLSH opened at $32.93 on Monday. 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 stock has a market capitalization of $4.97 billion and a price-to-earnings ratio of -3.56. Bullish has a 1-year low of $20.55 and a 1-year high of $74.98. The company has a 50 day moving average price of $25.20 and a 200 day moving average price of $31.82.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $92.62 million during 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% on a year-over-year basis. On average, research analysts anticipate that Bullish will post 0.44 EPS for the current fiscal year.

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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