by In the fast-paced world of cryptocurrency, Bakkt Holdings Inc. (BKKT) has recently made headlines with an impressive 170% surge in just two weeks. Despite this rally, analysts at Benchmark believe that Bakkt’s stock still holds significant upside potential, making it a compelling investment opportunity for both seasoned investors and those new to the crypto market.
Bakkt’s Stock Performance: A Closer Look
Following a remarkable run, Bakkt’s shares were trading approximately 2% higher, hovering around $26. This significant increase has captured the attention of investors and analysts alike. However, Benchmark has raised its price target for Bakkt from $13 to $40, underscoring the belief that the stock remains undervalued despite its recent performance.
Valuation Metrics: How Bakkt Compares to Competitors
According to Benchmark analyst Mark Palmer, Bakkt is trading at just 9.9 times its estimated 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA). This valuation is notably lower than its competitors, such as Coinbase, which trades at 24.1 times, Robinhood at 45.5 times, and Circle at 49.9 times. This substantial discount presents a unique opportunity for investors looking to capitalize on Bakkt’s growth trajectory.
Strategic Reset Under New Leadership
One of the key factors contributing to Bakkt’s optimistic outlook is the strategic reset initiated by CEO Akshay Naheta, who assumed sole leadership in August. Under his guidance, the company is focusing on three main areas: crypto infrastructure, stablecoin payments, and a newly unveiled Bitcoin (BTC) treasury strategy. This shift is aimed at positioning Bakkt as a leader in the rapidly evolving crypto landscape.
Streamlining Operations: Selling Off Non-Core Divisions
In a move to enhance profitability, Bakkt has divested its custody division and is in the process of exiting its legacy loyalty business. These non-core units had been costly and hindered the company’s focus on its primary offerings. Analysts expect that with these changes, Bakkt could achieve profitability in the first half of 2026, further solidifying its appeal to investors.
New Board Appointment: Strengthening Decision-Making
Investors are also optimistic about the recent appointment of fintech veteran Mike Alfred to Bakkt’s board on September 22. Alfred, known for founding retirement transparency platform BrightScope and blockchain analytics firm Digital Assets Data, brings a wealth of experience in financial services and digital infrastructure. His expertise is expected to enhance Bakkt’s strategic decision-making as the company scales its operations.
The Future of Bakkt: What Investors Should Know
With the cryptocurrency market continuously evolving, Bakkt is well-positioned to capitalize on emerging trends. The company’s focus on crypto infrastructure and stablecoin payments aligns with the growing demand for secure and efficient digital transactions. Additionally, Bakkt’s innovative Bitcoin treasury strategy is likely to attract institutional investors looking to diversify their portfolios.
How to Invest in Bakkt and Other Cryptocurrencies
For those interested in investing in Bakkt or exploring other cryptocurrencies, it is essential to conduct thorough research. Understanding how to buy Bitcoin, Ethereum, or even newer coins like Solana and XRP can be crucial for making informed investment decisions. For detailed guides, consider checking out our resources on how to buy Bitcoin, how to buy Ethereum, and how to buy Solana.
Conclusion: Bakkt’s Potential in the Cryptocurrency Market
In summary, Bakkt’s recent stock performance, coupled with the strategic initiatives set forth by its leadership, presents a promising outlook for both current and prospective investors. As the company continues to streamline its operations and focus on core offerings, the potential for growth remains significant. With a lower valuation compared to its peers and a commitment to innovation, Bakkt is certainly a stock to watch in the cryptocurrency space.
For more insights into cryptocurrency investments, be sure to explore our articles on Bitcoin ETFs and Kraken for trading options, or Binance and eToro for comprehensive trading platforms.
Meta Description: Discover why Bakkt’s stock, despite a 170% rally, still holds significant upside potential according to analysts. Learn about the company’s strategic reset and investment opportunities in the cryptocurrency market.
