Bullish (NYSE:BLSH) Given New $28.00 Price Target at JPMorgan Chase & Co.

Bullish (NYSE:BLSH) had its price target increased by research analysts at JPMorgan Chase & Co. from $25.00 to $28.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 19.13% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lowered their price target on shares of Bullish from $55.00 to $40.00 and set a “market perform” rating for the company in a report on Tuesday, September 29th. Freedom Broker assumed coverage on Bullish in a report on Tuesday, November 3rd. They set a “hold” rating on the stock. Citigroup restated a “buy” rating on shares of Bullish in a research report on Monday, July 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Bullish in a report on Wednesday, September 23rd. Finally, Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bullish currently has an average rating of “Hold” and an average price target of $44.64.

Bullish Price Performance

BLSH stock traded up $1.31 during trading on Wednesday, reaching $23.50. 217,977 shares of the company were exchanged, compared to its average volume of 1,584,802. The company has a 50-day moving average of $31.68 and a two-hundred day moving average of $31.78. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -2.54 and a beta of 1.06. Bullish has a twelve month low of $20.06 and a twelve month high of $48.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 23.52 and a quick ratio of 22.41.

Bullish (NYSE:BLSH) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The business had revenue of $92.62 million during the quarter. Bullish’s revenue for the quarter was up 62.5% on a year-over-year basis. As a group, equities analysts predict that Bullish will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bullish

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amova Asset Management Americas Inc. increased its position in Bullish by 51.9% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company’s stock valued at $137,139,000 after purchasing an additional 1,311,243 shares during the period. Voya Investment Management LLC lifted its position in shares of Bullish by 1,009.8% in the 3rd quarter. Voya Investment Management LLC now owns 807,778 shares of the company’s stock worth $28,183,000 after purchasing an additional 734,989 shares during the period. Galaxy Digital Inc. acquired a new position in shares of Bullish in the 1st quarter worth approximately $22,331,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Bullish in the 1st quarter worth approximately $7,830,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Bullish by 178.4% in the 1st quarter. Renaissance Technologies LLC now owns 156,833 shares of the company’s stock valued at $5,604,000 after purchasing an additional 100,500 shares during the last quarter.

Bullish News Summary

These are some of the BLSH news items that stood out recently:

• Positive Sentiment: StoneX Financial initiated coverage of Bullish with a Strong Buy rating, adding a positive analyst endorsement. StoneX Financial stock recommendations
• Positive Sentiment: Bullish’s new president backed an “issuer-first” approach to tokenized stocks. The position may reinforce the company’s strategic interest in tokenized securities, though the headline provides no specific financial impact or implementation details. Bullish’s New President Backs Issuer-First Model for Tokenized Stocks

About Bullish

Bullish is a digital asset company that operates the Bullish exchange, a platform focused on cryptocurrency trading and financial services for institutional and professional clients. Its offerings include spot and derivatives trading, along with related market and liquidity services. The company was founded in 2021 and expanded its digital asset and media businesses through its 2023 acquisition of CoinDesk, which provides cryptocurrency news, data, research and industry events. Bullish serves clients in multiple international markets, subject to local regulations.