Bullish (NYSE:BLSH) Price Target Cut to $30.00 by Analysts at Rosenblatt Securities

Bullish (NYSE:BLSH) had its target price decreased by Rosenblatt Securities from $42.50 to $30.00 in a research note released on Friday, Marketbeat.com reports. Rosenblatt Securities currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Zacks Research lowered Bullish from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. dropped their target price on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Citigroup reiterated a “buy” rating on shares of Bullish in a report on Monday, July 27th. Cantor Fitzgerald raised their price target on shares of Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bullish currently has an average rating of “Hold” and an average target price of $49.33.

Bullish Stock Performance

Shares of Bullish stock opened at $24.36 on Friday. The firm’s fifty day simple moving average is $24.48 and its 200-day simple moving average is $31.86. Bullish has a 12 month low of $20.55 and a 12 month high of $75.49. The stock has a market capitalization of $3.67 billion and a price-to-earnings ratio of -2.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $92.62 million for the quarter. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.32%. The company’s revenue for the quarter was up 62.5% on a year-over-year basis. As a group, equities analysts forecast that Bullish will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Bullish

Several hedge funds have recently made changes to their positions in BLSH. ARK Investment Management LLC grew its holdings in shares of Bullish by 87.1% during the 4th quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company’s stock valued at $182,598,000 after acquiring an additional 2,244,991 shares in the last quarter. Amova Asset Management Americas Inc. lifted its holdings in Bullish by 51.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company’s stock worth $137,139,000 after purchasing an additional 1,311,243 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Bullish by 51.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock worth $136,985,000 after buying an additional 1,304,573 shares during the period. Invesco Ltd. bought a new stake in Bullish during the third quarter valued at about $74,658,000. Finally, UBS Group AG increased its position in Bullish by 486.1% in the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock worth $49,581,000 after buying an additional 1,085,846 shares during the period.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish reported second-quarter revenue of $92.6 million, up 62.5% year over year, while adjusted EBITDA more than tripled to $29.5 million. Record subscription and services revenue of $62.7 million helped offset softer cryptocurrency trading activity. Bullish shares jump 10% as Q2 adjusted EBITDA more than triples
• Positive Sentiment: The company is positioning tokenized equities as a major growth opportunity. Bullish completed the first trades of tokenized shares on a GFSC-regulated digital-asset exchange, offering 24/7 trading and near-instant settlement. The initiative could expand Bullish’s exchange and infrastructure business, although the Equiniti acquisition remains subject to regulatory approval. Peter Thiel-Backed Bullish Sees Tokenized Stocks as a Giant Growth Opportunity
• Neutral Sentiment: Quarterly EPS of $0.09 matched consensus, while the company’s reported revenue also exceeded some estimates. However, analysts expect full-year EPS of approximately $0.52, and profitability remains difficult to assess because reported results were heavily affected by digital-asset valuation changes. Bullish Q2 Earnings and Revenues Top Estimates
• Negative Sentiment: Bullish posted a roughly $280 million net loss, primarily tied to a write-down in the value of its Bitcoin holdings. Quarterly trading volume also declined to $179.6 billion from $197.4 billion a year earlier, raising concerns about the sustainability of exchange-driven revenue. Bullish Stock Gains Despite $280 Million Loss
• Negative Sentiment: JPMorgan cut its Bullish price target from $26 to $25 and maintained a neutral rating. Rosenblatt also lowered its target from $42.50 to $30 and moved to neutral, citing mixed second-quarter results and a weak start to the third quarter. These revisions likely intensified selling pressure and reduced expectations for near-term upside. Bullish Is Pulling Away From Crypto Peers, but a Brutal July Spoils the Party

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.