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BLSH

Bullish

BLSH

NYSE·Technology·Software - Application·Mkt cap $3.8B

$25.57

▲ +1.35%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$21.76 - $118.00

P/E

-3.88

Fwd P/E

41.73

Beta

-0.13

Div Yield

0.00%

Avg Vol

1.5M

Shares Out

150.3M

Mkt Cap

$3.8B

Price action

Price chart

Down 62.9% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

4 reasons

  • Integrated market infrastructure combining exchange, data, and media capabilities
  • Deep liquidity through hybrid order book and automated market making technology
  • Trusted brand authority via CoinDesk in digital assets journalism and research
  • Institutional-grade tools and analytics for sophisticated market participants
▼

Bear Case

2 risks

  • Low volatility (beta -0.1).
  • High premium - requires strong execution

Growth

Turning profitable

Accelerating institutional adoption of digital assets and cryptocurrency trading

Value

High premium - requires strong execution

Momentum

Falling

-30.6% over 3m

Quality

Thin

Below average quality

Dividend

None

No dividend

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Aug 13, 2026

“
Q2 26 RECAP

MAY 14, 2026

Reported EPS of $0.13 vs $0.15 consensus (-12.9% surprise). Revenue of $92.8M vs $95.0M expected (-2.3%).

EPS miss
Revenue miss

EPS surprise · last 4Q

0 of 1 beats

Q2 26

-12.9%

Next: Aug 13, 2026

Revenue trend · last 8Q

—

—

—

-0%

+18%

-23%

-3%

-35%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$49.6B

$54.2B

$66.0B

$80.3B

$58.7B

$41.6B

$64.3B

$51.8B

Margins · last 8Q

Gross

—

Operating

—

Profit

-1.1%

View full earnings history →

Wall Street consensus

4 analysts · 50% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

2

50%

Hold

2

50%

Sell

0%

Median Price Target

$52.00

▲ +103.4% vs $25.57

Low $43.00
Median $52.00
High $61.00

Latest: Cantor Fitzgerald · $43.00 · May 15, 2026

2 analysts covering

View full analyst page →

vs Industry

How BLSH stacks vs Software - Application

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.