Bullish (BLSH)

KY — Technology Sector
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Key Metrics & Ratings

 

 

  • Rating
  • Score
  • Recommendation
  • P/E Score
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Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Initiation BLSH Keefe Bruyette -- Market Perform -- $55 Sept. 15, 2025
Initiation BLSH Canaccord Genuity -- Buy -- $68 Sept. 8, 2025
Initiation BLSH Cantor Fitzgerald -- Overweight -- $56 Sept. 8, 2025
Initiation BLSH Citigroup -- Buy -- $66 Sept. 8, 2025
Initiation BLSH Deutsche Bank -- Hold -- $51 Sept. 8, 2025
Initiation BLSH Jefferies -- Hold -- $49 Sept. 8, 2025
Initiation BLSH JP Morgan -- Neutral -- $50 Sept. 8, 2025
Initiation BLSH Rosenblatt -- Buy -- $60 Sept. 8, 2025
Initiation BLSH Bernstein -- Market Perform -- $60 Sept. 8, 2025
Initiation BLSH Compass Point -- Neutral -- $45 Sept. 3, 2025

News

Bullish launches in the U.S., offering institutions and advanced traders a new standard in digital asset trading
BLSH
Published: October 01, 2025 by: PRNewsWire
Sentiment: Neutral

NEW YORK , Oct. 1, 2025 /PRNewswire/ -- Bullish (NYSE: BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, today announced the launch of spot trading in the United States. Designed for market innovators, Bullish seeks to provide precision, efficiency, and compliance, offering no maker fees and low taker fees, deep liquidity powered by Automated Market Maker (AMM) technology, and robust APIs for both institutions and advanced traders.

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image for news Bullish launches in the U.S., offering institutions and advanced traders a new standard in digital asset trading
Bullish: Strong Bet On Institutional Crypto Growth
BLSH
Published: September 18, 2025 by: Seeking Alpha
Sentiment: Positive

Bullish recently completed a high-profile IPO and is positioned for growth with U.S. crypto market entry and crypto options trading. The institutional crypto exchange reported mixed Q2 '25 results, with revenue declines in crypto transactions but strong subscription growth and positive Q3 guidance. BLSH's BitLicense approval enables U.S. operations and institutional crypto adoption, plus new product launches are major catalysts for 2026.

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image for news Bullish: Strong Bet On Institutional Crypto Growth
Bullish Leads Crypto Exchange Rally After Fed Rate Cut, SEC Rule Change
BLSH
Published: September 18, 2025 by: Investors Business Daily
Sentiment: Positive

Bitcoin and crypto plays rallied on the Fed rate cut and an SEC rule change. Bullish jumped on results, Coinbase offered an aggressive entry.

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image for news Bullish Leads Crypto Exchange Rally After Fed Rate Cut, SEC Rule Change
Peter Thiel-Backed Crypto Platform Bullish Swings to a Profit; Stock Surges
BLSH
Published: September 18, 2025 by: Investopedia
Sentiment: Positive

Shares of Bullish (BLSH) surged Thursday after the cryptocurrency exchange backed by billionaire Peter Thiel reported that it posted a profit on higher sales and trading volume.

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image for news Peter Thiel-Backed Crypto Platform Bullish Swings to a Profit; Stock Surges
Shares of Bullish (BLSH) Up Another 7.5% on Earnings
BLSH
Published: September 18, 2025 by: 24/7 Wall Street
Sentiment: Positive

And, as noted by CEO Tom Farley: ”We are pleased with our results for the quarter – we saw exciting liquidity services growth, executed on a successful Consensus conference, and prepared for what would be a successful IPO.

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image for news Shares of Bullish (BLSH) Up Another 7.5% on Earnings
Bullish (BLSH) First Ever Quarterly Earnings: What To Watch
BLSH
Published: September 17, 2025 by: 24/7 Wall Street
Sentiment: Positive

Get earnings reminders, our top analysis on Bullish, market updates, and brand-new stock recommendations delivered directly to your inbox.

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image for news Bullish (BLSH) First Ever Quarterly Earnings: What To Watch
Bullish secures New York BitLicense from the NYDFS, paving way for U.S. launch
BLSH
Published: September 17, 2025 by: PRNewsWire
Sentiment: Neutral

NEW YORK , Sept. 17, 2025 /PRNewswire/ -- Bullish (NYSE: BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, today announced that its U.S. digital asset trading and custody business, Bullish US Operations LLC, has been granted a BitLicense and Money Transmission License by the New York State Department of Financial Services (NYDFS).

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image for news Bullish secures New York BitLicense from the NYDFS, paving way for U.S. launch
U.S. IPO Activity On Track For The Best Quarter Since Q1 2022
BLSH, BRCB, FIG, FIGR, GEMI, KLAR, LGN, NTSK, STUB, VIA
Published: September 17, 2025 by: Seeking Alpha
Sentiment: Positive

Q3 2025 IPO filings have reached 104 with two weeks left in the quarter, making it the strongest quarter since Q1 2022. After six large public offerings hit the tape last week, all eyes are on expected debuts from StubHub and Netskope this week. An anticipated Fed rate cut on Wednesday could fuel the fire of public debuts even more as we head into Q4 and 2026.

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image for news U.S. IPO Activity On Track For The Best Quarter Since Q1 2022
Bullish: A Closer Look At Earnings
BLSH
Published: September 16, 2025 by: Seeking Alpha
Sentiment: Positive

Bullish has seen volatile trading since its IPO, with shares down over 50% from their initial spike. BLSH's revenue is heavily reliant on crypto holdings, with transaction income declining and CoinDesk services showing growth but still limited overall scale. The company is not yet profitable; Q2 profit is entirely due to crypto asset appreciation, masking underlying operational losses.

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image for news Bullish: A Closer Look At Earnings
CRCL, BLSH, ASTS & GTLB: Luke Lloyd's Growth Stock Picks
GTLB, ASTS, BLSH, CRCL
Published: September 15, 2025 by: Schwab Network
Sentiment: Positive

Luke Lloyd says the growth trade is back, and investors should stay alert when it comes to stocks that can accelerate momentum. He points to two recent IPOs in Bullish (BLSH) and Circle (CRCL) as beneficiaries of the crypto trade despite their sharp sell-offs from records.

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image for news CRCL, BLSH, ASTS & GTLB: Luke Lloyd's Growth Stock Picks
Bullish Stock Is Falling. What Analysts Say About the Latest Crypto IPO.
BLSH
Published: September 08, 2025 by: Barrons
Sentiment: Neutral

A host of investment banks release their first research notes on the crypto company after its initial public offering last month.

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image for news Bullish Stock Is Falling. What Analysts Say About the Latest Crypto IPO.
CRWV, CRCL, BLSH and 2025 IPOs that WOW'ed the Markets
CRWV, BLSH, CRCL
Published: August 25, 2025 by: Schwab Network
Sentiment: Positive

When it comes to the IPO market, John Jannarone points to this year's biggest movers in A.I. and Crypto as the big themes to watch moving forward.

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image for news CRWV, CRCL, BLSH and 2025 IPOs that WOW'ed the Markets
Bullish Stock 2x To $140?
BLSH
Published: August 22, 2025 by: Forbes
Sentiment: Positive

Bullish (NYSE:BLSH) stock surged after its IPO earlier this month. The listing was priced at $37 per share, and the stock jumped nearly 3x in early trading before pulling back on volatility.

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image for news Bullish Stock 2x To $140?
The Big 3: APP, TXN, BLSH
APP, BLSH, TXN
Published: August 21, 2025 by: Schwab Network
Sentiment: Positive

While @ProsperTradingAcademy's Charles Moon questions some of the recent market behavior, he maintains conviction in today's Big 3. He sees Applovin (APP) making an upside run if it holds $420, Texas Instruments (TXN) continuing post-earnings "bullish behavior," and Bullish (BLSH) making a breakout back to its IPO highs.

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image for news The Big 3: APP, TXN, BLSH
Bullish: Hard To Be Bullish
BLSH
Published: August 18, 2025 by: Seeking Alpha
Sentiment: Positive

Bullish shares have soared post-IPO but remain highly volatile and disconnected from underlying business fundamentals. Core exchange revenues are modest, with profitability driven mainly by volatile fair value gains on crypto holdings, not recurring operations. The valuation is extremely stretched, with a $10 billion market cap despite annualized revenues near $200 million and ongoing adjusted losses.

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image for news Bullish: Hard To Be Bullish
Bullish (BLSH) Soars 83% on IPO: Is This Crypto Stock a Must-Buy?
BLSH
Published: August 14, 2025 by: 24/7 Wall Street
Sentiment: Positive

Key Points in This Article: Bullish (BLSH) is a Peter Thiel-backed crypto exchange targeting institutional investors with advanced trading tools.

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image for news Bullish (BLSH) Soars 83% on IPO: Is This Crypto Stock a Must-Buy?
Bullish: Don't Fall Into The FOMO Trap
BLSH
Published: August 14, 2025 by: Seeking Alpha
Sentiment: Positive

Bullish had a highly successful IPO, raising $1.1B which signaled strong investor appetite for crypto assets. The platform offers a comprehensive suite of crypto trading and data services, competing with companies like Binance, Coinbase and Robinhood. Bullish's profitability is tied to crypto market volatility. The firm lost money in Q1'25, but was profitable in the previous two fiscal years.

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image for news Bullish: Don't Fall Into The FOMO Trap
CoinDesk Parent Bullish IPO Priced Over Range
BLSH
Published: August 13, 2025 by: Bloomberg Technology
Sentiment: Positive

Crypto firm Bullish raises $1.1 billion in an IPO. The owner of media outlet CoinDesk priced its shares above the marketed range.

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image for news CoinDesk Parent Bullish IPO Priced Over Range
Bullish IPO is the final ingredient to make a market bubble, says MAI's Chris Grisanti
BLSH
Published: August 13, 2025 by: CNBC Television
Sentiment: Negative

Chris Grisanti, MAI Capital Management chief market strategist, joins 'Power Lunch' to discuss the two conflicting market narratives, how much stock buybacks are propelling this equity market and much more.

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image for news Bullish IPO is the final ingredient to make a market bubble, says MAI's Chris Grisanti
Bullish CEO Tom Farley on public debut
BLSH
Published: August 13, 2025 by: CNBC Television
Sentiment: Positive

Bullish CEO Tom Farley on Wednesday said the reception to the cryptocurrency exchange's public listing is an indicator that more institutional investors are ready to enter the crypto space.

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image for news Bullish CEO Tom Farley on public debut
Crypto Exchange Bullish Surges 160% In IPO, Becomes Latest Wall Street Debut Darling
BLSH
Published: August 13, 2025 by: Forbes
Sentiment: Positive

Brendan Blumer, Bullish's co-founder and CEO of the tech firm Block.one, was expected to hold about 30.1% of the company's shares after its IPO, according to Securities and Exchange Commission filings. Bullish CEO Thomas Farley will hold about 3.8% of shares, while CFO David Bonanno will hold 1.4%.

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image for news Crypto Exchange Bullish Surges 160% In IPO, Becomes Latest Wall Street Debut Darling
Peter Thiel-Backed Crypto Exchange Bullish More Than Doubles in Trading Debut
BLSH
Published: August 13, 2025 by: Investopedia
Sentiment: Positive

Shares of Bullish, a crypto exchange backed by PayPal (PYPL) founder and billionaire venture capitalist Peter Thiel, soared in their debut on the New York Stock Exchange Wednesday under the ticker "BLSH."

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image for news Peter Thiel-Backed Crypto Exchange Bullish More Than Doubles in Trading Debut
Crypto exchange Bullish more than doubles in NYSE debut after pricing IPO above expected range
BLSH
Published: August 13, 2025 by: CNBC
Sentiment: Positive

Bullish shares rocketed after the crypto exchange raised $1.1 billion in an initial public offering. The stock opened at $90 on the New York Stock Exchange under the ticker BLSH after its IPO priced at $37 per share.

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image for news Crypto exchange Bullish more than doubles in NYSE debut after pricing IPO above expected range
Bullish's Stock-Market Debut Will Be a Big Test for IPO Pricing
BLSH
Published: August 13, 2025 by: WSJ
Sentiment: Positive

The cryptocurrency exchange's CEO is former NYSE President Tom Farley, an IPO veteran.

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image for news Bullish's Stock-Market Debut Will Be a Big Test for IPO Pricing
Bullish shares poised for strong debut on NYSE after $1.1B IPO
BLSH
Published: August 13, 2025 by: Proactive Investors
Sentiment: Positive

Shares of Bullish, a cryptocurrency exchange backed by billionaire Peter Thiel, are expected to open between $60 and $65 when they debut on the New York Stock Exchange on Wednesday, well above the company's $37 initial public offering (IPO) price. Bullish raised $1.1 billion in the IPO by selling 30 million shares, exceeding its previously marketed price range of $32 to $33 per share, according to Bloomberg.

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image for news Bullish shares poised for strong debut on NYSE after $1.1B IPO

About Bullish (BLSH)

  • IPO Date 2025-08-13
  • Website https://www.Bullish.com
  • Industry Software - Infrastructure
  • CEO David Whalen Bonanno
  • Employees 400

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.