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BLSH Stock Chart & Stats
$23.96
-$0.28(-1.16%)
At close: 4:00 PM EDT
$23.96
-$0.28(-1.16%)
Day’s Range― - ―
52-Week Range$20.55 - $75.49
Previous CloseN/A
Volume2.20M
Average Volume (3M)1.52M
Market Cap
$3.67B
Enterprise Value$3.78K
Total Cash (Recent Filing)$329.96M
Total Debt (Recent Filing)$518.15M
Price to Earnings (P/E)―
Beta2.14
Next Earnings
Nov 25, 2026EPS Estimate
0.08Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-9.11
Shares Outstanding150,302,220
10 Day Avg. Volume1,321,849
30 Day Avg. Volume1,524,296
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$40.33Price Target Upside68.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.46
Revenue Forecast (FY)$358.75M
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 $20.55 and its highest was $75.49 in the past 12 months.
What is Bullish’s market cap?
Bullish’s market cap is $3.67B.
When is Bullish’s upcoming earnings report date?
Bullish’s upcoming earnings report date is Nov 25, 2026 which is in 100 days.
How were Bullish’s earnings last quarter?
Bullish released its earnings results on Aug 13, 2026. The company reported $0.094 earnings per share for the quarter, beating the consensus estimate of $0.088 by $0.006.
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 0.08.
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 $0.094 in its last earnings report, beating expectations of $0.088. Following the earnings report the stock price went up 11.571%.
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
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10
Analyst Consensus
Moderate Buy
Average Price Target:
$40.33 (68.34% Upside)
$40.33 (68.34% Upside)
Blogger Sentiment
Bullish
BLSH Sentiment 77%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 1.7M Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Negative
Last 7 Days ▲ 0.3%
Last 30 Days ▼ 2.2%
Last 30 Days ▼ 2.2%
News Sentiment
Very Bearish
Bullish news 17%
Bearish news 83%
Bearish news 83%
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
-4.41%
Trailing 12-Months
Company Description
Bullish
Bullish (BLSH) is a technology-driven financial services company focused on providing a robust trading platform for cryptocurrencies. Operating primarily in the fintech sector, Bullish combines advanced technology with market expertise to offer a seamless trading experience for users. Its core products include a cryptocurrency exchange and various trading tools designed to cater to both retail and institutional investors, aiming to enhance liquidity and facilitate efficient trading in the digital asset space.
BLSH Company Deck
BLSH Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call conveyed multiple material strategic and operational positives: strong year-over-year revenue growth (+62%), record SS&O, healthy adjusted EBITDA margin (~32%), robust net liquid assets ($2.1B), major tokenization milestones (first tokenized share trades, Equiniti acquisition progress), accelerating CoinDesk audience and institutional wins, and an earlier-than-expected pathway to U.S. derivatives markets. Offsetting these positives are near-term trading headwinds from a softer crypto market (lower volumes and market share), a peak in quarterly operating expenses driven in part by one-time costs, unresolved regulatory timing, and limited near-term transaction revenue uplift from tokenization (expected concentration of tokenization benefits in 2027). Overall, the strategic story (tokenization + Equiniti) and strong SS&O traction appear to outweigh the near-term trading and expense challenges.View all BLSH earnings summariesBLSH Stock 12 Month Forecast
Average Price Target
$40.33
▲(68.34% Upside)
Technical Analysis
Ownership Overview
26.06% Insiders
6.76% Mutual Funds
13.42% Other Institutional Investors
47.51% Public Companies and Individual Investors