Citigroup has initiated coverage on Bullish (BLSH) with a Buy rating, marking the firm's first assessment of the company since its IPO on August 13, 2025. The current stock price stands at $37.02.
Bullish operates a digital asset platform and is headquartered in George Town, Grand Cayman. The company employs 388 full-time staff and focuses on providing products and services that support institutional growth, individual investor empowerment, and the adoption of stablecoins, digital assets, and blockchain technology. Its dual business lines encompass media and events, with its media operations conducted through CoinDesk.com, which delivers news and information on the digital assets sector. The company also hosts significant annual events, such as the Consensus conference, to engage the global digital asset and blockchain communities.
As of November 1, 2025, the analyst consensus for Bullish includes 3 Strong Buy, 6 Buy, and 9 Hold ratings, with no Sell or Strong Sell ratings, reinforcing a general optimistic outlook on the company. The upcoming earnings report is scheduled for November 19, 2025, with an estimated EPS of $0.10 on revenues of $72.6 million. In its last earnings release for Q3 2025, Bullish reported an EPS of $0.07, falling short of the $0.10 estimate, reflecting a 30.2% surprise to the downside.
Analyst ratings, while informative, are based on assumptions that may not always materialize. Investors should consider various factors, including company fundamentals and market conditions, before making decisions.