Wall Street Bullish on Bullish After Strong Q2, BitLicense Win
Wall Street analysts are optimistic on Bullish (BLSH) following its second-quarter results, citing accelerating Subscription, Services & Other (SS&O) growth, regulatory progress, and the upcoming launch of options trading.
Citi (C) raised its price target to $70 from $66, highlighting slightly better-than-expected Q2 results and the recent NYDFS BitLicense approval, which removes a key regulatory overhang. Citi reiterated its buy rating, noting Bullish’s “highly attractive operating leverage” and IPO-driven momentum.
Canaccord called Bullish’s public debut strong, citing solid pricing trends and subscription growth. With options trading expected in Q4 and Q3 guidance above estimates, Canaccord maintained its buy rating and $68 target.
KBW flagged the regulatory wins as positives for U.S. expansion but noted challenges in building brand recognition. The bank kept its market perform rating at $55.
Bullish shares rose 8%, trading near $58.18.
