Bullish Posts Strong Q1 Against Strong Headwinds, But Uncertainty Remains, Say Analysts

Shares of cryptocurrency exchange and blockchain technology company Bullish (NYSE:BLSH) tanked Friday morning, after the company on Thursday reported its first-quarter results.

• Bullish stock is feeling bearish pressure. Why is BLSH stock falling?

Here are the key analyst insights:

• Cantor Fitzgerald analyst Brett Knoblauch maintained an Overweight rating, while raising the price target from $39 to $43.
• Rosenblatt Securities analyst Chris Brendler reiterated a Neutral rating, while cutting the price target from $45 to $42.50.

Check out other analyst stock ratings.

Cantor Fitzgerald: Bullish’s adjusted revenue grew 49% year-on-year to $92.8 million and its adjusted EBITDA grew 166% to $35.1 million, with an adjusted EBITDA margin of 37.9%, Knoblauch said in a note.

Management indicated that adjusted revenue …

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