Want to see BLSH full AI Analyst Report?
BLSH Stock Chart & Stats
$43.51
--
Market closed
$43.51
--
Day’s Range― - ―
52-Week Range$21.76 - $118.00
Previous CloseN/A
VolumeN/A
Average Volume (3M)1.72M
Market Cap
$3.79B
Enterprise Value$4.03B
Total Cash (Recent Filing)$359.69M
Total Debt (Recent Filing)$507.10M
Price to Earnings (P/E)―
Beta2.11
Next Earnings
Sep 23, 2026EPS Estimate
0.11Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-6.59
Shares Outstanding150,302,220
10 Day Avg. Volume2,027,424
30 Day Avg. Volume1,718,472
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 Cap1.06
Enterprise Value/Revenue0.02
Enterprise Value/Gross Profit89.52
Enterprise Value/Ebitda-4.12
Forecast
1Y Price Target
$48.19Price Target Upside10.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.66
Revenue Forecast (FY)$377.18M
Bulls Say, Bears Say
Bulls Say
Rapid Revenue Growth And Improving EBITDASustained, high single‑quarter revenue and EBITDA records indicate strong product-market fit across trading, liquidity services and options. Durable top-line scale improves ability to invest in infrastructure and product development, and creates room to convert growth into sustainable profits over time.
Conservative Capital Structure (low Leverage)A low debt‑to‑equity ratio provides financial flexibility to fund expansion, absorb market shocks, and invest in regulated U.S. growth without heavy refinancing risk. This strengthens long‑term resilience and supports multi‑year strategic initiatives such as institutional onboarding and product rollouts.
Regulatory Authorization Enabling U.S. ExpansionObtaining a BitLicense is a structural milestone that lowers regulatory barriers and builds trust with institutional and retail U.S. clients. It enables regulated product offerings, supports long‑term market access, and helps monetize tokenization and index opportunities across U.S. exchanges.
Bears Say
Negative Operating Cash FlowPersistent negative operating cash flow signals that core operations are not yet self‑funding, raising reliance on external capital. Over months to years this constrains reinvestment, increases dilution or leverage risk, and makes sustained product and market expansion dependent on financing availability.
Low Profitability And Thin Operating MarginsDespite rapid revenue growth, weak gross and operating margins limit free cash generation and the firm’s ability to scale profitably. Without margin expansion via pricing power, product mix, or cost efficiency, long‑term returns and funding capacity for strategic initiatives remain constrained.
Prolonged U.S. Customer Onboarding FrictionLengthy, diligence‑driven onboarding is a structural headwind in the post‑FTX regulatory environment, slowing U.S. revenue capture and raising acquisition costs. Over time this delays network effects, hinders scale in a key market, and favors incumbents with established compliance infrastructure.
Bullish News
BLSH FAQ
What was Bullish’s price range in the past 12 months?
Bullish lowest stock price was $21.76 and its highest was $118.00 in the past 12 months.
What is Bullish’s market cap?
Bullish’s market cap is $3.79B.
When is Bullish’s upcoming earnings report date?
Bullish’s upcoming earnings report date is Sep 23, 2026 which is in 83 days.
How were Bullish’s earnings last quarter?
Bullish released its earnings results on May 14, 2026. The company reported $0.286 earnings per share for the quarter, beating the consensus estimate of $0.149 by $0.137.
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 is 0.11.
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 $0.286 in its last earnings report, beating expectations of $0.149. Following the earnings report the stock price went down -5.621%.
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
Neutral
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Moderate Buy
Average Price Target:
$48.19 (10.75% Upside)
$48.19 (10.75% Upside)
Blogger Sentiment
Bullish
BLSH Sentiment 70%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 1.7M Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 0.6%
Last 30 Days ▼ 1.9%
Last 30 Days ▼ 1.9%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Fundamentals
Return on Equity
-32.51%
Trailing 12-Months
Asset Growth
24.73%
Trailing 12-Months
Company Description
Bullish
Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company 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. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; 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 offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
BLSH Company Deck
BLSH Earnings Call
Q1 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents multiple strong operational and strategic positives: robust year-over-year revenue growth (+49%), substantial margin expansion, clear exchange market-share gains (14% open interest in Bitcoin options), traffic and product validation at CoinDesk, and a transformational acquisition (Equiniti) that fills critical gaps for an end-to-end tokenization offering. Offsetting these are meaningful near-term headwinds: digital-asset price weakness, higher operating spend in 2026 (including one-time event and investment costs), temporary revenue impacts from contract exits, and deal execution/integration and leverage risks tied to the Equiniti transaction. Management reaffirmed 2026 pro-forma guidance and outlined medium-term targets, signaling confidence in the strategic plan while acknowledging short-term cost push and regulatory timing risks.View all BLSH earnings summariesBLSH Stock 12 Month Forecast
Average Price Target
$48.19
▲(10.75% Upside)
Technical Analysis
Ownership Overview
26.06% Insiders
6.76% Mutual Funds
13.48% Other Institutional Investors
47.60% Public Companies and Individual Investors