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Bullish (BLSH)
NYSE:BLSH
BLSH Stock Chart & Stats
$37.97
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Market closed
$37.97
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Day’s Range― - ―
52-Week Range$24.79 - $118.00
Previous CloseN/A
VolumeN/A
Average Volume (3M)1.68M
Market Cap
$5.71B
Enterprise Value$6.44B
Total Cash (Recent Filing)$508.88M
Total Debt (Recent Filing)$601.46M
Price to Earnings (P/E)―
Beta0.67
Next Earnings
Sep 23, 2026EPS EstimateN/A
Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)0.20
Shares Outstanding150,302,220
10 Day Avg. Volume1,330,361
30 Day Avg. Volume1,678,243
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.50
Price to Sales (P/S)0.02
P/FCF Ratio0.00
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue0.03
Enterprise Value/Gross Profit47.43
Enterprise Value/Ebitda-45.88
Forecast
1Y Price Target
$47.83Price Target Upside25.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.6
Revenue Forecast (FY)$375.25M
Bulls Say, Bears Say
Bulls Say
Institutional Client WinsAnalyst highlights major broker and custodian client wins that boost trading activity and introduce new liquidity flows to the exchange.
Options AdoptionAnalyst notes strong adoption of options trading on the platform, creating a growing revenue stream that could increase fee income and diversify trading sources.
Revenue DiversificationAnalyst points out a large portion of revenue from subscription and service offerings, which can reduce reliance on trading volatility and stabilize cash flows.
Bears Say
Balance Sheet Crypto ExposureAnalyst highlights that downward pressure on Bitcoin weakens the stock because of sizable digital-asset holdings on the company's balance sheet.
Macro Environment PressureAnalyst warns that a difficult macro environment could obscure franchise value creation and exert pressure on near-term performance.
Scale And Valuation ConcernsAnalyst expresses concern that the business remains subscale relative to its opportunity, and the current valuation keeps the analyst on the sidelines.
Bullish News
BLSH FAQ
What was Bullish’s price range in the past 12 months?
Bullish lowest stock price was $24.79 and its highest was $118.00 in the past 12 months.
What is Bullish’s market cap?
Bullish’s market cap is $5.71B.
When is Bullish’s upcoming earnings report date?
Bullish’s upcoming earnings report date is Sep 23, 2026 which is in 183 days.
How were Bullish’s earnings last quarter?
Bullish released its earnings results on Feb 05, 2026. The company reported $0.195 earnings per share for the quarter, beating the consensus estimate of $0.149 by $0.046.
Is Bullish overvalued?
According to Wall Street analysts Bullish’s price is currently Undervalued.
Does Bullish pay dividends?
Bullish does not currently pay dividends.
What is Bullish’s EPS estimate?
Bullish’s EPS estimate for its next earnings report is not yet available.
How many shares outstanding does Bullish have?
Bullish has 150,302,220 shares outstanding.
What happened to Bullish’s price movement after its last earnings report?
Bullish reported an EPS of $0.195 in its last earnings report, beating expectations of $0.149. Following the earnings report the stock price went down -8.456%.
Which hedge fund is a major shareholder of Bullish?
Currently, no hedge funds are holding shares in BLSH
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Bullish Stock Smart Score
Outperform
1
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Analyst Consensus
Moderate Buy
Average Price Target:
$47.83 (25.97% Upside)
$47.83 (25.97% Upside)
Blogger Sentiment
Bullish
BLSH Sentiment 85%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 1.8M Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.7%
Last 30 Days ▼ 2.7%
Last 30 Days ▼ 2.7%
News Sentiment
Neutral
Bullish news 50%
Bearish news 50%
Bearish news 50%
Company Description
Bullish
Bullish provides market infrastructure and information services in United States. It operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. The company also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets for global institutions in the digital assets and traditional finance industries; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights, operates Coindesk.com, a leading digital media platform that covers news and insights about digital assets, the underlying markets, policy, and blockchain technology. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
BLSH Company Deck
BLSH Earnings Call
Q4 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call emphasized pronounced operational and financial progress: strong revenue and profitability gains, rapid adoption of options, expanding regulatory footprint, deepening tokenization and liquidity-service partnerships, and a robust information-services franchise. Management provided growth guidance that implies continued momentum (SS&O midpoint implying ~50% YoY growth). Headwinds include recent sharp crypto price declines, month-to-month transaction revenue volatility, regulatory uncertainty around U.S. market-structure legislation, and planned product sunsetting and higher operating/event costs. Overall, the positives (record revenues, margin expansion, product traction and regulatory wins) materially outweigh the risks discussed, though execution and macro/regulatory developments remain key near-term monitors.View all BLSH earnings summariesBLSH Stock 12 Month Forecast
Average Price Target
$47.83
▲(25.97% Upside)
Technical Analysis
Ownership Overview
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Insiders
6.00% Mutual Funds
10.33% Other Institutional Investors
77.78% Public Companies and Individual Investors