Bullish Shares Rise on Strong Q2, BitLicense Approval
Wall Street analysts are optimistic on Bullish (BLSH) following its second-quarter results, citing growth in Subscription, Services & Other (SS&O), regulatory progress, and the upcoming options trading launch.
Citi (C) raised its price target to $70 from $66, noting Q2 results slightly exceeded expectations. The recent NYDFS BitLicense approval removes a major regulatory overhang, boosting confidence ahead of fiscal 2026. Citi highlighted accelerating SS&O growth, partially driven by the firm’s IPO, and reaffirmed its buy rating.
Canaccord praised Bullish’s post-IPO debut, citing strong pricing trends and subscription growth. With options trading expected in Q4 and raised Q3 guidance, Canaccord kept its buy rating at $68.
KBW saw regulatory wins as positive for U.S. expansion but cautioned about brand recognition challenges, maintaining a market perform rating with a $55 target.
Shares jumped 8%, trading around $58.18.
