Bullish Price Target Cut 7% to $42 by JPMorgan; Ark Invest Buys $6M
JPMorgan cut its price target on Bullish to $42 from $45 after updating its model with December monthly metrics while maintaining a Neutral rating. Cathie Wood’s Ark Invest added roughly $6.0 million of Bullish shares, signaling confidence in its regulated crypto exchange infrastructure and long-term market positioning.
1. JPMorgan Lowers Price Target to $42
On January 27, JPMorgan analyst Kenneth Worthington cut Bullish’s price target to $42 from $45 following updates to the firm’s financial model that incorporated December monthly trading metrics, while maintaining a Neutral rating to reflect balanced valuation relative to operating trends.
2. Ark Invest Adds $6 Million in Shares
Cathie Wood’s Ark Invest acquired approximately $6.0 million of Bullish stock, highlighting confidence in the exchange’s regulated infrastructure and its potential to benefit from recovering digital asset market activity.
3. Bullish’s Regulatory and Global Positioning
Founded in 2020 and headquartered in the Cayman Islands, Bullish operates a regulated cryptocurrency exchange licensed in Germany, Hong Kong, Gibraltar and New York, with a compliance-focused model designed to attract institutional participation as crypto regulations evolve.