Bullish Q3 Earnings Preview: All You Need To Know About Analyst Price Targets, Quarterly Estimates And More

Bullish (NYSE:BLSH) is set to report its third-quarter financials before the market opens on Wednesday. Here’s what investors need to know before the announcement.

What Are Analysts Expecting?

Analysts estimate the cryptocurrency exchange to announce earnings per share of $0.09, a decline from $0.93 per share it reported in the previous quarter.

The firm is expected to report quarterly revenue of $72.39 million, up from $58.63 million.

The BLSH stock has a consensus price target of $56.91 from 12 analysts, with the highest forecast of $70 set by Citigroup on Sept. 18. Based on the three most recent ratings, the average price target stands at $62, implying a potential upside of about 70% for the stock.

Technical Indicators Show Mixed Signals

The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset's price, flashed a "Sell" signal for BLSH, according to TradingView.

On the other hand, the Williams Percent Change, used to identify overbought and oversold conditions, indicated a “Buy” rating.

A New Rival For Coinbase?

Bullish, backed by billionaire venture capitalist Peter Thiel, went public through an initial public offering in August, raising $1.213 billion in what turned out to be a blockbuster debut. The stock opened at $90.45 per share, well-above its IPO price of $37 per share.

Cathie Wood-led Ark Invest has been one of the prominent investors in the company. The firm bagged over $10 million worth of Bullish shares on Monday via its ETFs, including Ark Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW).

Price Action: BLSH shares fell 0.67% in after-hours trading after closing 4.50% lower at $36.75 during Monday’s regular trading session, according to data from Benzinga Pro.

Benzinga’s Edge Stock Rankings showed that the stock had a weaker price trend in the short, medium, and long term. Compare it with fellow cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) by clicking here.