The 12 Wall Street analysts covering Bullish hold a median 12-month price target of $40 — +37.0% from the last close. Ticker Nerd's systematic factor model, run across ~4,600 US stocks, ranks it 10 of 100 as at 22 Oct 2026 — in the weakest quartile. The Street sees upside; the factor read is a caution. That gap is the story on this page.
Consensus tells you what everyone already believes. The model scores Bullish on its factor families — the same systematic rank behind the Ticker Nerd portfolio.
Percentile across ~4,600 US stocks on Ticker Nerd’s systematic factor model. Higher is better. How the model is built and tested
Accruals (70): Reported profit is backed by cash, and the company is not expanding recklessly.
Quality (10): Profits are thin or unreliable for the size of the business, or they are not turning into cash.
Built and run by Aslam Ghouse, an ex-Goldman Sachs quant trader with fourteen years in markets.
The bullish and bearish analyst opinions on BLSH, reported as data — targets and ratings, the market's view beside the model's.
Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.
Data provided by Twelve Data
The green dot is the last close — the median target sits +37.0% from it.
Of the 20 most recent actions, 1 moved their price target up and 6 moved it down.
| Date | Firm | Action | Rating | Target |
|---|---|---|---|---|
| 14 Oct 2026 | Wells Fargo | Maintains | Equal-Weight | $38 → $35 |
| 2 Oct 2026 | Wells Fargo | Initiates | Equal-Weight | $38 |
| 2 Oct 2026 | Wells Fargo | Initiates | Equal-Weight | — |
| 29 Sept 2026 | Keefe, Bruyette & Woods | Maintains | Market Perform | — |
| 29 Sept 2026 | Keefe, Bruyette & Woods | Maintains | Market Perform | $55 → $40 |
| 23 Sept 2026 | Canaccord Genuity | Maintains | Buy | — |
| 23 Sept 2026 | Canaccord Genuity | Maintains | Buy | $45 |
| 14 Sept 2026 | Compass Point | Upgrade | Buy | $30 → $51 |
| 14 Sept 2026 | Compass Point | Upgrade | Buy | — |
| 17 Aug 2026 | Canaccord Genuity | Maintains | Buy | — |
| 17 Aug 2026 | Canaccord Genuity | Maintains | Buy | $50 → $45 |
| 14 Aug 2026 | JP Morgan | Maintains | Neutral | $26 → $25 |
| 14 Aug 2026 | JP Morgan | Maintains | Neutral | — |
| 14 Aug 2026 | Rosenblatt | Maintains | Neutral | — |
| 14 Aug 2026 | Rosenblatt | Maintains | Neutral | $43 → $30 |
| 16 June 2026 | JP Morgan | Maintains | Neutral | $43 → $26 |
| 16 June 2026 | JP Morgan | Maintains | Neutral | — |
| 15 May 2026 | Cantor Fitzgerald | Maintains | Overweight | — |
| 15 May 2026 | Rosenblatt | Maintains | Neutral | — |
| 13 May 2026 | Rosenblatt | Maintains | Neutral | — |
Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.
BLSH appears in the Radar on the weeks it earns a place.
Both lines are total return — dividends reinvested — so the comparison is honest on both sides.
Over the twelve months to 22 Oct 2026, Bullish returned −44.5% against +15.6% for the S&P 500, dividends included.
Download this chart as an image — free to reuse; link this page as the source.
Data provided by Twelve Data
Not the forecast itself — the direction analysts are revising it. Revision direction is one of the model's factor families.
A margin means little on its own. Each bar marks where the figure sits across the whole US universe we score.
Cheaper than 90% of US stocks
Cheaper than 10% of US stocks
Cheaper than 46% of US stocks
Cheaper than 82% of US stocks
Higher than 89% of US stocks
Higher than 12% of US stocks
Higher than 4% of US stocks
Higher than 9% of US stocks
Higher than 47% of US stocks
Higher than 20% of US stocks
Higher than 22% of US stocks
Higher than 1% of US dividend payers
Bars mark the percentile across the ~4,600 US stocks Ticker Nerd covers, among those reporting the figure.
The headline figures, each with its date. Every row carries its own link — cite it straight from here.
Bullish has a market value of $4.4B and an enterprise value of $4.6B.
Revenue in the twelve months to 30 June 2026: $190.6B. The latest quarter grew 68.8% year on year.
Net income over the same four quarters: −$1.4B, a −0.8% net margin.
Diluted earnings per share, trailing twelve months: $−9.26.
Free cash flow in the twelve months to 30 June 2026: $111.2M.
Bullish spent $0.0 on dividends in the twelve months to 30 June 2026.
Trailing P/E: −4.8×; forward P/E: 41.3× — the forward figure prices analyst consensus estimates, not reported earnings.
Forward dividend yield: 0.00%, paying out 0% of earnings.
Bullish employs 394 people — $483.7M of revenue per employee.
Data provided by Twelve Data
The nearest names by industry and size, scored by the same model — like for like.
Look up any of the roughly 4,600 stocks we score.
The rank is the raw material. Whether the rules would actually own Bullish — and when they’d sell — is the membership. See the Ticker Nerd 20 →
Siris Capital announced the creation of October Capital, a private equity firm focused on investing in services businesses that help enterprises adopt and scale transformative technologies.
Why it matters — The announcement may be relevant to BLSH watchers as news about investment activity in services businesses connected to enterprise technology adoption.
Seeking Alpha describes Bullish as a potential breakout candidate, citing Q2'26 transaction revenue growth of 24% year over year and a 97% rise in subscription and services revenue, now 68% of total revenue. It says the Equiniti acquisition positions the company to pursue growth in the tokenized real-world asset market.
Why it matters — BLSH watchers may note the strong subscription and services revenue growth and the acquisition's connection to tokenized real-world assets as potential long-term catalysts.
Bullish announced that it released its monthly metrics for September 2026 on October 6, 2026.
Why it matters — The release makes Bullish’s September 2026 monthly metrics available to investors tracking the company.
Bullish (NYSE:BLSH) shares are trading lower Friday afternoon as investors weigh the long-term monetization timeline of the newly announced blockchain equity initiative.
Why it matters — A BLSH watcher would care because the stock's decline reflects investor caution about the timeline for the company's recently disclosed blockchain equity initiative.
Bullish and Equiniti announced the formation of the Issuer Sponsored Token Coalition, a multi-stakeholder industry working group bringing together leading firms across brokerage, trading and market infrastructure to advance issuer-sponsored tokenized securities.
Why it matters — The move positions BLSH at the centre of an industry initiative to develop tokenized securities, a potentially significant growth area in market infrastructure.
The 12 Wall Street analysts covering Bullish have a median 12-month price target of $40, with estimates ranging from $25 to $53. These are third-party analyst estimates, not Ticker Nerd forecasts, and they are frequently wrong.
Of the 12 analysts covering Bullish, 5 rate it a Buy, 7 a Hold and 0 a Sell. Ticker Nerd's systematic factor model ranks Bullish 10 out of 100 across roughly 4,600 US stocks as at 22 Oct 2026. None of this is personal advice — it does not consider your circumstances.
As at 22 Oct 2026, Bullish ranks 10 out of 100 on Ticker Nerd's systematic factor model — a percentile across roughly 4,600 US stocks, built from its factor families. Its strongest factor family is Accruals (70 of 100).
No one can know that. What the data says: the median 12-month target from 12 analysts implies +37.0% from the last close, and Ticker Nerd's factor model ranks Bullish 10 out of 100 as at 22 Oct 2026. Analyst targets are third-party estimates and frequently wrong; none of this is personal advice.
No analyst covering Bullish publishes a 2030 price target — Wall Street targets run 12 to 18 months out. Sites quoting a 2030 price for BLSH are extrapolating price history, which says nothing about the business. The furthest attributed numbers are the current analyst targets: $25 to $53 over the next 12 months.
Bullish returned -44.5% over the 12 months to 22 Oct 2026, with dividends reinvested. Past performance does not indicate future returns.
Bullish Inc. is a digital asset platform that provides market infrastructure and information services for the cryptocurrency industry.
The most recent item we track (GlobeNewsWire, 21 Oct 2026): "October Capital Formed with Dedicated Focus on Services Businesses". Siris Capital announced the creation of October Capital, a private equity firm focused on investing in services businesses that help enterprises adopt and scale transformative technologies.
Bullish Inc. is a digital asset platform that provides market infrastructure and information services for the cryptocurrency industry. The company operates Bullish Exchange, which supports spot and derivatives trading with tools designed for professional and institutional participants. It also offers CoinDesk services, including market data, indices, news, analysis, conferences, and networking products focused on digital assets and blockchain technology. Bullish serves users across global markets through regulated, institutional-oriented offerings that combine trading functionality with research and information services. Its business model centers on helping market participants access liquidity, pricing intelligence, and digital asset infrastructure within the broader crypto ecosystem.
CEO Mr. Thomas W. Farley · 394 employees · Cayman Islands · https://www.bullish.com
