Bullish, the cryptocurrency exchange backed by Peter Thiel, is nearing its fourth-quarter 2025 earnings release. The financial community eagerly awaits the report, with analysts projecting significant growth in both earnings per share and quarterly revenue. This forthcoming announcement arrives at a pivotal moment, as the company’s stock exhibits mixed technical signals and varying market sentiment, underscoring the importance of understanding the underlying financial health and future prospects of this key player in the digital asset space.
Bullish Q4 2025 Earnings Outlook: Revenue Growth and Technical Signals
On February 3, 2026, Bullish (NYSE: BLSH) is scheduled to unveil its financial results for the fourth quarter of 2025 before the opening bell. Market analysts are optimistic, forecasting earnings per share of $0.15, which marks a substantial increase from the $0.10 reported in the third quarter. Revenue projections also indicate robust growth, with expectations of $87.77 million, up from $76.60 million in the preceding quarter.
The consensus price target for BLSH stock, derived from the assessments of 12 analysts, stands at $53.36. CitiGroup, in its December 22 analysis, set the highest forecast at $67. The three most recent ratings suggest an average target of $53.67, implying a potential upside of approximately 85% for the stock.
However, technical indicators present a more nuanced picture. As of December 31, short interest in Bullish reached 7.15 million shares, constituting 15.6% of its publicly available float, suggesting a considerable bearish sentiment among some investors. Conversely, the Commodity Channel Index (CCI) signals oversold conditions, potentially indicating a buying opportunity, according to TradingView. The Moving Average Convergence Divergence (MACD) indicator, which tracks momentum, issued a “Sell” signal, while the Relative Strength Index (RSI) remained “Neutral.”
Bullish operates a cryptocurrency exchange primarily serving institutional clients and also owns CoinDesk, a leading media and data platform in the crypto industry. The company is led by Thomas Farley, former president of NYSE Group. In the quarter ending December 31, Bullish reported a total trading volume (spot + derivatives) of $222.4 billion, reflecting a 56% increase from the previous quarter. Despite this operational growth, Benzinga’s Edge Stock Rankings categorize BLSH stock as exhibiting a weaker price trend across short, medium, and long terms. Shares of Bullish experienced a 0.80% gain in after-hours trading, following a 4.74% decline to $28.77 during Monday’s regular trading session.
The upcoming earnings report will be crucial in clarifying Bullish's financial standing and could significantly influence its market trajectory. The blend of optimistic revenue forecasts, analyst price targets, and conflicting technical signals creates a dynamic scenario for investors as they weigh the company’s growth potential against prevailing market sentiments.
This impending earnings release for Bullish serves as a critical juncture for both the company and the broader cryptocurrency market. The projected growth in EPS and revenue underscores the expanding institutional interest in digital assets, while the conflicting technical indicators highlight the inherent volatility and speculative nature of this sector. As investors, it’s a reminder to delve beyond surface-level figures and consider a comprehensive analysis of fundamental strengths, market positioning, and technical trends. The performance of key players like Bullish can offer valuable insights into the evolving landscape of cryptocurrency adoption and investment. Ultimately, the report will not only detail Bullish’s financial health but also provide a pulse check on the industry’s current momentum.