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Bullish (BLSH) Stock Analysis

SellVALUE-TRAP 1/5Moderate Confidence

Technology · Software - Infrastructure

Sell if holding. Engine safety override at $37.50: Quality below floor (3.5 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: High short interest: 18%; Below-average business quality; Rich valuation.

Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated... Read more

$37.50+6.8% A.UpsideScore 4.9/10#70 of 80 Software - Infrastructure
Stop $34.78Target $39.93(analyst − 13%)A.R:R 0.5:1
Analyst target$45.90+22.4%10 analysts
$39.93our TP
$37.50price
$45.90mean
$65

Sell if holding. Engine safety override at $37.50: Quality below floor (3.5 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: High short interest: 18%; Below-average business quality; Rich valuation. Chart setup: No recognized chart pattern (not a breakout, bounce, continuation, recovery, falling knife, or range) — technicals mixed. Score 4.9/10, moderate confidence.

Passes 4/7 gates (clean insider activity, no SEC red flags, news events none recent, semi cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: moderate.

Thesis

Rewards
No bull case signals
Risks
Quality below floor (3.5 < 4.0)

Key Metrics

P/E (TTM)
P/E (Fwd)34.9
Mkt Cap$5.5B
EV/EBITDA-31.3
Profit Mgn0.0%
ROE-27.6%
Rev Growth97.9%
Beta
DividendNone
Rating analysts18

Quality Signals

Piotroski F8/9

Options Flow

P/C0.90neutral
IV87%elevated
Max Pain$20-46.7% vs spot

Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. Full disclaimer

Rating Breakdown

4 floor-breakers·1 ceiling hit

Momentum below the gate floor. Component breakdown shows what dragged the score down.static

Macd
0.0
Volume
0.7
Obv
1.0
Rsi
4.5
Ma Position
4.5
Volume distribution (falling OBV)

Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static

Value Rank
0.5
Quality Rank
0.9
Growth Rank
9.7
Industry growth leader

Quality below the gate floor. Component breakdown shows what dragged the score down.static

Roe
0.0
Roa
0.0
Net Margin
0.0
Fcf Quality
0.0
Rule Of 40
3.0
Current Ratio
5.0
Moat
5.0
Piotroski F
8.9
Gross Margin
10.0
Cash-burning: FCF -267% of revenueNo competitive moatRule of 40: -169 (fail)Strong Piotroski F-Score: 8/9

Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static

Ps
0.0
Forward Pe
3.0
Analyst Target
6.0
Peg Ratio
10.0
Forward P/E: 34.9xPEG: 0.30
GatesMomentum 2.1<4.5A.R:R 0.5 < 1.5@spotEARNINGS PROXIMITY 14d<=14d (soft)Insider activity: OKNo SEC red flagsNEWS EVENTS NONE RECENTSEMI CYCLE PEAK CLEARSuitability: Moderate
RSI
53 · Neutral
20D MA 50D MA 200D MASupport $33.16Resistance $44.05

Price Targets

$35
$40
A.Upside+6.5%
A.R:R0.5:1

Position Sizing

ConvictionNone
Suggested %0.5%
Max %1%
RegimeSteady

Risk Alerts

! Quality below floor (3.5 < 4.0)
! Momentum score 2.1/10 — below 4.5 minimum
! Reward/Risk 0.5:1 at current price — below 1.5:1 minimum

Earnings

B
M
M
M
1/4 beats
Next Earnings2026-05-14 (14d)

Verdict History

reverse chrono — latest first
Loading history...
Verdicts are recorded on every nightly pipeline run. Rows capture transitions (verdict flips, score deltas ≥0.3, entry/TP/SL changes). Rows with a ▶ can be expanded to see the change reason. Aggregate cohort performance is tracked in the recommendation ledger.
Frequently Asked Questions
Is BLSH stock a buy right now?

Sell if holding. Engine safety override at $37.50: Quality below floor (3.5 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: High short interest: 18%; Below-average business quality; Rich valuation. Chart setup: No recognized chart pattern (not a breakout, bounce, continuation, recovery, falling knife, or range) — technicals mixed. Prior stop was $34.78. Score 4.9/10, moderate confidence.

What is the BLSH stock price target?

Take-profit target: $39.93 (+6.8% upside). Prior stop was $34.78. Stop-loss: $34.78.

What are the risks of investing in BLSH?

Quality below floor (3.5 < 4.0).

Is BLSH overvalued or undervalued?

Bullish trades at a P/E of N/A (forward 34.9). TrendMatrix value score: 3.8/10. Verdict: Sell.

What do analysts say about BLSH?

18 analysts cover BLSH with a consensus score of 3.8/5. Average price target: $46.

What does Bullish do?Bullish, a global digital asset platform that provides market infrastructure and information services in United States....

Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company 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. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; 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 offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.

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