Bullish (NYSE:BLSH) Given New $30.00 Price Target at Rosenblatt Securities

Bullish (NYSE:BLSH) had its target price cut by equities researchers at Rosenblatt Securities from $42.50 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 9.09% from the stock’s current price.

BLSH has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Bullish in a research report on Friday, May 15th. JPMorgan Chase & Co. reduced their price objective on Bullish from $43.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Cantor Fitzgerald boosted their target price on Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.42.

Bullish Trading Up 11.7%

NYSE BLSH opened at $27.50 on Friday. Bullish has a one year low of $20.55 and a one year high of $85.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The stock has a market capitalization of $4.15 billion and a P/E ratio of -4.20. The business has a 50 day simple moving average of $24.53 and a 200 day simple moving average of $31.92.

Bullish (NYSE:BLSH) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The business had revenue of $92.62 million during the quarter. The company’s quarterly revenue was up 62.5% on a year-over-year basis. Research analysts expect that Bullish will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Bullish

Several hedge funds have recently made changes to their positions in BLSH. Essential Partners LLC purchased a new stake in Bullish during the 1st quarter worth about $27,000. Rakuten Securities Inc. bought a new stake in shares of Bullish during the fourth quarter valued at about $28,000. Strs Ohio purchased a new stake in shares of Bullish in the fourth quarter worth about $30,000. MetLife Investment Management LLC bought a new position in shares of Bullish in the fourth quarter valued at approximately $30,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Bullish in the fourth quarter valued at approximately $61,000.

Key Headlines Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Revenue and adjusted profitability improved materially. Second-quarter adjusted revenue rose 62% year over year to $92.6 million, while adjusted EBITDA more than tripled to $29.5 million. Adjusted net income was $14.3 million, compared with a $6 million loss a year earlier. Subscription, services and other revenue reached a record $62.7 million, helping offset softer exchange activity. Bullish shares jump as Q2 adjusted revenue surges
• Positive Sentiment: Tokenized equity trading created a new growth narrative. Bullish announced the first trades of tokenized shares on a Gibraltar Financial Services Commission-regulated digital-asset exchange. The shares can trade 24/7, settle against a U.S. dollar stablecoin and provide direct ownership rights. Management described tokenized stocks as a major opportunity, with the planned Equiniti acquisition intended to provide registry and transfer-agent capabilities. Bullish sees tokenized stocks as a growth opportunity
• Neutral Sentiment: Core exchange activity weakened. Quarterly trading volume declined to $179.6 billion from $197.4 billion, and average daily volume fell to $2 billion from $2.2 billion. This makes the company’s growing subscription and services business increasingly important to sustaining revenue growth. Bullish stock surges after topping Q2 revenue estimates
• Negative Sentiment: Headline earnings remained pressured by digital-asset marks. Bullish recorded a net loss of roughly $280 million, largely reflecting write-downs tied to the value of its Bitcoin and other digital-asset holdings. The company also has a negative net margin, underscoring continued earnings volatility. Bullish gains despite Bitcoin write-down
• Negative Sentiment: Valuation and insider selling remain risks. One analysis argued that BLSH may still trade above fair value after its prior decline, while CEO Tom Farley has reported multiple open-market sales and no purchases in the past six months. The $4.2 billion Equiniti acquisition also remains subject to regulatory approval and execution risk. Bullish stock may sit above fair value

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.