Analysts Set Bullish (NYSE:BLSH) Target Price at $52.08

Bullish (NYSE:BLSH) has received an average recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $52.0833.

Several brokerages have recently commented on BLSH. Citigroup decreased their target price on Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Bullish from a “hold” rating to a “buy” rating and lowered their target price for the company from $52.00 to $51.00 in a research note on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Bullish in a research report on Tuesday, January 6th.

Bullish Price Performance

Shares of BLSH stock opened at $31.74 on Thursday. The business’s fifty day moving average is $37.68. The firm has a market cap of $4.64 billion and a price-to-earnings ratio of 317.39. Bullish has a 1-year low of $24.79 and a 1-year high of $118.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28.

Bullish (NYSE:BLSH) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing the consensus estimate of $0.16 by ($3.89). The company had revenue of $92.50 million for the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The business’s revenue was up 67.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 earnings per share.

Institutional Trading of Bullish

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its position in Bullish by 87.1% during the 4th quarter. ARK Investment Management LLC now owns 4,821,700 shares of the company’s stock valued at $182,598,000 after purchasing an additional 2,244,991 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Bullish by 75.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,529,313 shares of the company’s stock valued at $95,785,000 after buying an additional 1,086,420 shares during the last quarter. Amova Asset Management Americas Inc. boosted its holdings in shares of Bullish by 75.7% during the fourth quarter. Amova Asset Management Americas Inc. now owns 2,524,820 shares of the company’s stock valued at $95,514,000 after acquiring an additional 1,087,452 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Bullish by 7.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,985 shares of the company’s stock worth $59,228,000 after acquiring an additional 104,724 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Bullish by 486.1% in the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock worth $49,581,000 after acquiring an additional 1,085,846 shares during the period.

About Bullish

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.