Education
About Us
Working with TipRanks
Follow Us
Bullish (BLSH)
NYSE:BLSH
BLSH Stock Chart & Stats
$32.05
--
Market closed
$32.05
--
Day’s Range― - ―
52-Week Range$24.79 - $118.00
Previous CloseN/A
VolumeN/A
Average Volume (3M)2.08M
Market Cap
$4.14B
Enterprise Value$5.33B
Total Cash (Recent Filing)$508.88M
Total Debt (Recent Filing)$601.46M
Price to Earnings (P/E)―
Beta2.79
Next Earnings
Sep 23, 2026EPS EstimateN/A
Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)0.20
Shares Outstanding150,683,750
10 Day Avg. Volume3,398,176
30 Day Avg. Volume2,079,922
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 Cap1.29
Enterprise Value/Revenue0.02
Enterprise Value/Gross Profit38.67
Enterprise Value/Ebitda-7.93
Forecast
1Y Price Target
$48.17Price Target Upside50.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.59
Revenue Forecast (FY)$373.57M
Bulls Say, Bears Say
Bulls Say
Institutional Adoption And US Market AccessAnalysts note major brokers and custodians are onboarding the platform and US spot access under a BitLicense is attracting institutional trading flows that should deepen liquidity and broaden the customer base.
Product Traction And Liquidity AdvantageOptions platform adoption combined with a competitive global order book and tight spreads is drawing trading partners and creating a growing transaction revenue stream as market volatility rises.
Revenue DiversificationA large portion of revenue comes from subscription and service offerings, providing recurring income that reduces dependence on volatile transaction volumes.
Bears Say
Balance Sheet Crypto ExposureSignificant digital-asset holdings on the balance sheet expose reported capital and investor sentiment to downside when Bitcoin prices decline.
Liquidity Services Growth SustainabilityLiquidity services revenue shows signs of deceleration once promotional stablecoin-related inflows are excluded, raising questions about the sustainability of recent growth.
Scale And Valuation RiskBusiness remains subscale relative to the total addressable market, which increases execution risk and keeps analysts cautious at the current valuation.
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 $4.14B.
When is Bullish’s upcoming earnings report date?
Bullish’s upcoming earnings report date is Sep 23, 2026 which is in 224 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 150,683,750 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
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
$48.17
▲(50.30% Upside)
Technical Analysis
Ownership Overview
―
Insiders
3.58% Mutual Funds
7.22% Other Institutional Investors
84.77% Public Companies and Individual Investors