Top Clear Street analyst Owen Lau upgraded Bullish (BLSH) stock to Buy from Hold, citing several positives, including the company’s market share gains in spot trading globally. Bullish is a digital asset platform that is focused on institutional investors. Lau finds BLSH stock’s valuation attractive and contends that “sell-off is overdone.” Shares of the crypto platform have declined more than 26% over the past month. Despite paring significant gains, Bullish stock is currently trading above its IPO (initial public offering) price of $37.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Top Analyst Turns Upbeat About BLSH Stock
Aside from market share wins, Lau also highlighted other strengths, such as Bullish’s expansion into options, the U.S. market, and liquidity services, as well as solid blockchain fundamentals. The 5-star analyst expects all these positive factors to drive higher earnings growth, improved sentiment, and multiple expansion.
Furthermore, Lau noted that BLSH stock has pulled back 21% since he initiated coverage on October 20. The analyst noted that the recent selloff in several blockchain stocks, including BLSH, is due to concerns over the macro backdrop and artificial intelligence. That said, Lau contends that fundamentals of Bullish and the broader industry remain solid, as indicated by his market share analysis and insights from recent conferences (including Money20/20, Ripple Swell, and Chainlink SmartCon). Lau slightly raised his estimates for Bullish to reflect improved revenue prospects.
Lau explained that despite all these positives, he lowered his price target for BLSH stock to $57 from $60 to reflect lower stock multiples amid weaker sentiment. “However, we believe it presents an attractive setup for the shares going into 2026,” concluded the top-rated analyst.
What Is the Target Price for BLSH Stock?
Interestingly, popular investor Cathie Wood has been capitalizing on the pullback in BLSH stock and accumulating shares via the ARK ETFs.
Currently, Wall Street is cautiously optimistic on Bullish stock, with a Moderate Buy consensus rating based on five Buys and eight Holds. The average BLSH stock price target of $60.42 indicates 35% upside potential.
