B

Bullish

BLSH·NYSE

$28.10

-7.7%
TechnologySoftware - Infrastructure

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.

At a Glance

Live Snapshot
Market Cap$4.26B
EPS-5.9900
P/E Ratio-4.69
Earnings Date08/13/2026
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Bullish Street Expectations Map

BLSH · NYSE

Wall Street analysts project that BLSH stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 51.33, with estimates ranging from a low of 43.00 to a high of 61.00.

Lowest Target
43.00
53.02%
Consensus Target
51.33
82.67%
Highest Target
61.00
117.08%

The consensus 1-year price target stands at 51.33, with estimates ranging from a low of 43.00 to a high of 61.00.

Analyst Consensus Analysis

Upside Potential

+82.7%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

35.1% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Analyst Conviction

High

Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

b

Bullish Forward Estimates of Revenue

BLSH · NYSE
Latest Revenue
244.97B
FY 2025
Avg Estimate
382.58M
FY 2026
Estimate Range
365.43M - 394.76M
Analyst Spread

Forward Growth Analysis

Projected Growth-99.8%

Significant contraction projected—major business challenges or industry disruption likely.

Analyst Coverage5 Analysts

Moderate coverage—sufficient for guidance but may lack depth of large-cap analysis.

Estimate Spread8%

Narrow estimate range signals strong analyst consensus and predictable business outlook.

OutlookNeutral

Mixed signals—some positive indicators offset by concerns about growth or uncertainty.

b

Bullish Forward Estimates of Net Income

BLSH · NYSE
Latest Net Income
-764.68M
FY 2025
Avg Estimate
83.69M
FY 2026
Estimate Range
63.93M - 95.32M
Analyst Spread

Forward Growth Analysis

Projected Growth+110.9%

Strong growth expectations signal robust business momentum and market opportunity expansion.

Analyst Coverage5 Analysts

Moderate coverage—sufficient for guidance but may lack depth of large-cap analysis.

Estimate Spread38%

Wide estimate range reveals significant forecast uncertainty and potential volatility.

OutlookPositive

Generally favorable outlook with reasonable growth prospects and analyst support.

b

Bullish Forward Estimates of EPS

BLSH · NYSE
Latest EPS
-5.99
FY 2025
Avg Estimate
$0.66
FY 2026
Estimate Range
$0.50 - $0.75
Analyst Spread

Forward Growth Analysis

Projected Growth+110.9%

Strong growth expectations signal robust business momentum and market opportunity expansion.

Analyst Coverage4 Analysts

Limited coverage may indicate reduced institutional interest or information availability.

Estimate Spread38%

Wide estimate range reveals significant forecast uncertainty and potential volatility.

OutlookPositive

Generally favorable outlook with reasonable growth prospects and analyst support.

Key Insight

Limited coverage with volatile estimates: Few analysts covering despite significant projected changes may indicate information gaps or emerging risks.

b

Bullish Forward Estimates of EBIT

BLSH · NYSE
Latest EBIT
-734.04M
FY 2025
Avg Estimate
-77.43M
FY 2026
Estimate Range
-79.90M - -73.96M
Analyst Spread

Forward Growth Analysis

Projected Growth+89.5%

Strong growth expectations signal robust business momentum and market opportunity expansion.

Analyst Coverage5 Analysts

Moderate coverage—sufficient for guidance but may lack depth of large-cap analysis.

Estimate Spread8%

Narrow estimate range signals strong analyst consensus and predictable business outlook.

OutlookStrong

Positive analyst consensus with strong growth expectations and forecast confidence.

Key Insight

Compelling growth story with analyst consensus: Strong projected growth combined with narrow estimate spread suggests high-conviction opportunity.

b

Bullish Forward Estimates of EBITDA

BLSH · NYSE
Latest EBITDA
-725.85M
FY 2025
Avg Estimate
-77.39M
FY 2026
Estimate Range
-79.86M - -73.92M
Analyst Spread

Forward Growth Analysis

Projected Growth+89.3%

Strong growth expectations signal robust business momentum and market opportunity expansion.

Analyst Coverage5 Analysts

Moderate coverage—sufficient for guidance but may lack depth of large-cap analysis.

Estimate Spread8%

Narrow estimate range signals strong analyst consensus and predictable business outlook.

OutlookStrong

Positive analyst consensus with strong growth expectations and forecast confidence.

Key Insight

Compelling growth story with analyst consensus: Strong projected growth combined with narrow estimate spread suggests high-conviction opportunity.

b

Bullish Forward Estimates of SG&A Expense

BLSH · NYSE
Latest SG&A Expense
53.81M
FY 2025
Avg Estimate
5.86M
FY 2026
Estimate Range
5.60M - 6.05M
Analyst Spread

Forward Growth Analysis

Projected Growth-89.1%

Significant contraction projected—major business challenges or industry disruption likely.

Analyst Coverage5 Analysts

Moderate coverage—sufficient for guidance but may lack depth of large-cap analysis.

Estimate Spread8%

Narrow estimate range signals strong analyst consensus and predictable business outlook.

OutlookNeutral

Mixed signals—some positive indicators offset by concerns about growth or uncertainty.

b

Bullish Insider Positioning

BLSH · NYSE

During the last 12 months, insiders have sold $232K worth of BLSH shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

5.5K

232.38K

Net Activity

-232K

-$232K

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

1
FTW

Farley Thomas W

Director, Officer: Chief Executive Officer

5.5K shares1 transactions

$232K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $232K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$232K

Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.

Insider Participation

High Selling

1 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Persistent selling pressure: Consistent insider selling with weak buy/sell ratio suggests insiders may be capitalizing on current valuation. Exercise caution and review recent earnings quality and management commentary.