Bullish (BLSH) Fair Value 2026

BLSH · Software - Infrastructure ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

5.6 /10

32 fundamental signals · 2 models active

Value Trap Risk

LOW (27/100)

Quick Summary — As of 2026-10-07, Bullish (BLSH) trades at $33.38, versus a $88.28 median fair value across its 2 active models — 164.5% above the current price. QOC: 5.6/10. Value Trap Risk: 27/100 (LOW). 2/13 models active.

Key Facts

Ticker
BLSH
Price
$33.38
Quality Score
5.6/10
Value Trap Risk
27/100
Models Active
2/13
Last Updated
Strength: Regime Cross-Sectional suggests +203.4% upside with 32% confidence
Risk: Limited model coverage (2/13) may reduce confidence

Is Bullish (BLSH) Undervalued or Overvalued in 2026?

According to CirclFi’s 2-model valuation engine, Bullish (BLSH) appears undervalued as of : the median of 2 independent fair value estimates is $88.28, 164.5% above the current price of $33.38. Estimates range from $75.29 to $101.27. BLSH scores 5.6/10 on fundamental quality and 27/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -20.1% versus its own 13-model consensus, across 3,777 rated companies as of 2026-10-07. BLSH’s +164.5% gap is wider than that market norm, and the Software - Infrastructure sector median is -25.3%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Bullish Stock in 2026? →

What Fair Value Does Each Model Give BLSH?

2 Intrinsic Value Models vs. Current Price ($33.38)

Core Models (Unlocked)
Model Fair Value Upside
Relative · Medium Conviction
 $101.27 +203.4%
Relative · Low Conviction
 $75.29 +125.5%

All Models Active

All 2 models are displayed above.

What Is Bullish (BLSH) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, the weight of evidence tilts decidedly bullish for Bullish. Trading at $33.38 against an estimated intrinsic value of $88.28, 2 of 2 active models flag meaningful upside of +164.5% at the median. The most optimistic model, Regime Cross, places fair value at $101.27 (+203.4%), while FTNN — the most conservative — estimates $75.29 (+125.5%). This +77.8% gap reflects genuine analytical uncertainty about Bullish's intrinsic worth.

What Do the Models Say About BLSH?

2 of 13 models are currently active for BLSH. All 2 active models suggest the stock trades below fair value. Taken together, their median fair value for BLSH is $88.28 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does BLSH Rank in Software - Infrastructure?

Among 187 Software - Infrastructure stocks, BLSH ranks #112 by Quality of Company score. CirclFi's QOC score of 5.6/10 evaluates 32 fundamental signals. A score of 5.6 reflects mixed fundamentals.

See all Most Undervalued Software - Infrastructure Stocks →

As a technology sector, Bullish operates in a sector where free cash flow margin is a critical driver of valuation. Investors evaluating BLSH should weigh these sector-specific dynamics alongside our model-derived fair values.

Is BLSH a Value Trap?

CirclFi's Value Trap algorithm assigns BLSH a score of 27/100 (LOW). This indicates low risk. The financial profile does not exhibit typical value trap warning signs. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

2 of 13 models are active for Bullish. Limited activation may indicate insufficient history. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi 32-factor quality framework, Bullish's fundamental quality profile registers 5.6/10. This respectable score captures the company's profitability depth, growth consistency, balance sheet resilience, and shareholder return track record.

The gap between the most bullish and bearish model spans +77.8% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every BLSH valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across BLSH's 2 active models, average confidence is 20%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Bullish Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Software - Infrastructure Stocks Should You Also Analyze?

11 related Software - Infrastructure stocks with 13-model coverage

ATDSData443 Risk Mitigation, Inc.QOC 5.6VHCVirnetX Holding CorporationQOC 5.6BTLNBrightline Interactive, Inc.QOC 5.6AUIDauthID Inc.QOC 5.5MOVECorvex, Inc.QOC 5.6LIDRAEye, Inc.QOC 5.5CYABCyabra, Inc.QOC 4.0PAYPaymentus Holdings, Inc.QOC 8.9CGNTCognyte Software Ltd.QOC 7.4FTNTFortinet, Inc.QOC 9.7QLYSQualys, Inc.QOC 9.7

Read investment analysis: ATDS · VHC · BTLN · AUID · MOVE · LIDR · CYAB · PAY · CGNT · FTNT · QLYS

Which Other Stocks Have a Similar Quality Score to BLSH?

7 companies across all industries closest to BLSH’s Quality of Company score of 5.6/10.

CVATCavitation Technologies, Inc.QOC 5.6PLUTPlutus Financial Group LimitedQOC 5.6CCAPCrescent Capital BDC, Inc.QOC 5.6VEEETwin Vee Powercats Co.QOC 5.6VSTSVestis CorporationQOC 5.6VGZVista Gold Corp.QOC 5.6NVDANVIDIA CorporationQOC 10.0

Read investment analysis: CVAT · PLUT · CCAP · VEEE · VSTS · VGZ · NVDA

Where Does BLSH Sit in CirclFi's Software - Infrastructure Rankings?

BLSH is ranked against every other Software - Infrastructure stock CirclFi covers in each of these screens.

See all Software - Infrastructure stocks ranked →

What Else Do Investors Ask About Bullish’s Valuation?

What is Bullish's intrinsic value in 2026?

CirclFi puts Bullish (BLSH)'s intrinsic value at $88.28 — the median of 2 independent model estimates as of 2026-10-07, ranging from $75.29 to $101.27. The Quality of Company score is 5.6/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is BLSH overvalued or undervalued right now?

At $33.38, 2 of 2 active models suggest BLSH may be undervalued, while 0 indicate potential overvaluation. The median of all 2 fair value estimates is $88.28, 164.5% above the current price of $33.38 — a consensus view that BLSH is undervalued. The assessment depends on which methodology best fits Bullish's business model in Software - Infrastructure.

What does a Quality of Company score of 5.6 mean for BLSH?

Bullish's QOC of 5.6/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores between 5-7 reflect moderate fundamentals with areas for improvement.

How many valuation models does CirclFi run on BLSH?

CirclFi analyzes BLSH with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 2 of 13 are active for this stock. Read the full methodology →

Is BLSH a value trap in 2026?

Bullish's Value Trap score is 27/100 (LOW). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap. Browse stocks by value-trap risk →

Cite this analysis — “According to CirclFi’s 2-model valuation engine, Bullish (BLSH) has a median fair value of $88.28 — 164.5% above the current price of $33.38 — as of 2026-10-07.” Source: circlfi.com/stock/BLSH/ · Methodology
Primary sources for this BLSH valuation
  • Financial statements: Bullish 10-K and 10-Q filings on SEC EDGAR (CIK 0001872195) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for BLSH as of ; valuations recomputed .