• Bullish reported stronger-than-expected Q3 revenue, driven by new U.S. spot trading and crypto options launches.

• The stock has fallen 51% since its August 2025 IPO at $37, creating a compelling entry point for investors.

• Deutsche Bank highlights Bullish’s role in integrating crypto for traditional finance firms, with Q4 revenue guidance of $47-53 million.

Discover Deutsche Bank’s buy rating on Bullish stock amid crypto market volatility. Explore revenue beats, U.S. expansion, and 40% upside potential for investors in 2025. Read now for key insights!

What is Deutsche Bank’s Latest Rating on Bullish Crypto Exchange Stock?

Deutsche Bank’s buy rating on Bullish crypto exchange stock reflects optimism about the company’s growth trajectory following its third-quarter earnings. Analyst Brian Bedell upgraded the rating after Bullish exceeded revenue expectations, despite missing profit targets, emphasizing improved risk-reward as shares trade below IPO levels. This move signals confidence in Bullish’s strategic expansions in the U.S. and options trading.

How Has Bullish’s Recent Performance Influenced Investor Sentiment?

Bullish’s third-quarter results showcased robust revenue growth, surpassing analyst forecasts, primarily from launches in U.S. spot trading and crypto options, which generated over $1 billion in volume. Despite a 3.6% stock drop post-earnings due to a profit shortfall, Bedell described the outcomes as “good overall,” pointing to cost controls and strong margins on new revenue streams. The broader crypto market’s downturn, with Bitcoin declining from $125,000 in early October to around $89,000 by mid-November, contributed to the stock’s 51% slide from its mid-August peak. Bedell noted in his analysis that this positions Bullish at 31 times the 2027 earnings per share estimate, offering attractive value. CEO Tom Farley reinforced this by highlighting institutional client wins and liquidity partnerships, underscoring Bullish’s evolution as essential infrastructure for traditional finance entering crypto. Founded in 2020 and backed by Peter Thiel, the Cayman Islands-based firm has maintained its post-IPO strategy, focusing on low-cost, liquid trading solutions. CFO David Bonanno added that subscription, services, and other revenues hit records, with Q4 projections between $47 million and $53 million against $48-50 million in adjusted operating costs, indicating sustained profitability momentum.

Frequently Asked Questions

What Factors Led to Deutsche Bank’s Upgrade of Bullish Stock?

Deutsche Bank’s upgrade stems from Bullish’s Q3 revenue beat, successful U.S. market entry, and crypto options rollout achieving $1 billion in volume. Analyst Brian Bedell views the stock’s post-IPO decline as an opportunity, with positive Q4 guidance and strategic positioning for institutional crypto adoption driving the buy recommendation and $51 target.

Is Bullish Stock a Good Buy After Its Recent Decline?

Yes, according to Deutsche Bank, Bullish stock presents a strong risk-reward profile trading 5% below its $37 IPO price from August 2025. With revenue momentum from new products and expansions, alongside a 40% upside to the $51 target, it appeals to investors eyeing long-term crypto infrastructure growth, even amid market volatility.

Key Takeaways

• Revenue Strength: Bullish exceeded Q3 expectations through U.S. spot trading and options, signaling robust demand in institutional crypto services.
• Strategic Positioning: The exchange’s role in bridging traditional finance and crypto, with key client sign-ups, supports future revenue diversification.
• Investment Opportunity: Post-decline pricing at 31x 2027 EPS offers 40% potential gains; monitor Q4 results for confirmation of momentum.

Conclusion

Deutsche Bank’s Bullish crypto exchange stock upgrade to buy underscores the platform’s resilience amid crypto market challenges and its pivotal expansions in U.S. trading and options. With record revenues and a clear path to profitability, Bullish remains a key player for institutional investors. As 2025 progresses, watch for sustained growth that could validate this 40% upside potential and solidify its market position.