BKKT

Bakkt Holdings Inc

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Advanced Chart

27.670

+4.7(20.461%)1D

Line

Candle

YTD

High

28.090

Open

24.000

VWAP

26.56

Vol

1.98M

Mkt Cap

639.49M

Low

23.420

Amount

52.70M

EV/EBITDA(TTM)

Total Shares

6.23M

640.83M

EV/OCF(TTM)

P/S(TTM)

0.05

Bakkt Holdings, Inc. provides solutions that enable institutional participation in the digital asset economy - spanning Bitcoin, tokenization, stablecoin payments, and artificial intelligence (AI)-driven finance. The Company operates primarily through Bakkt Crypto Solutions, LLC (Bakkt Crypto). Through Bakkt Crypto’s platform, customers can purchase approved crypto assets, store crypto assets in custodial wallets, liquidate their holdings, and transfer supported crypto assets between a custodial wallet maintained by Bakkt Crypto and external wallets in certain jurisdictions, if enabled by the client. Bakkt Crypto’s proprietary trading platform and relationships with liquidity providers provide access to a wide range of crypto assets and competitive pricing to its customers. Bakkt Crypto holds a New York State virtual currency license (BitLicense), and money transmitter licenses from all states throughout the United States.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q2

25.40M

+71.62%

-1.000

-367.02%

Estimates Revision

The market is revising No Change the revenue expectations for Bakkt Holdings, Inc. (BKKT) for FY2025, with the revenue forecasts being adjusted by 0% over the past three months. During the same period, the stock price has changed by 196.25%.

Revenue Estimates for FY2025

No Change

0.00%

In Past 3 Month

EPS Estimates for FY2025

No Change

0.00%

In Past 3 Month

Stock Price

Go Up

+196.25%

In Past 3 Month

2 Analyst Rating

Wall Street analysts forecast BKKT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BKKT is 41.00 USD with a low forecast of 40.00 USD and a high forecast of 42.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

2 Buy

0 Hold

0 Sell

Moderate Buy

Current: 27.670

Low

40.00

Averages

41.00

High

42.00

Current: 27.670

Low

40.00

Averages

41.00

High

42.00

Clear Street

Brian Dobson

Buy

maintain

$14 -> $42

2025-09-30

Reason

Clear Street

Brian Dobson

Price Target

$14 -> $42

2025-09-30

maintain

Buy

Reason

Clear Street analyst Brian Dobson raised the firm's price target on Bakkt to $42 from $14 and keeps a Buy rating on the shares. The shares are up 245% since the firm launched coverage on September 9, and it sees further upside ahead, the analyst tells investors in a research note. The firm added that Bakkt's stablecoin infrastructure is gaining attention as it is well positioned in the high-growth cross-border payment segment, adding that it believes the stock warrants a higher multiple of 19x, in line with stablecoin peers.

Clear Street

NULL -> Buy

initiated

$14

2025-09-09

Reason

Clear Street

Price Target

$14

2025-09-09

initiated

NULL -> Buy

Reason

Clear Street initiated coverage of Bakkt with a Buy rating and $14 price target. Despite a 63% year-to-date share decline, the firm believes the risk-reward has now skewed positively as Bakkt is shedding non-core businesses - Loyalty & Custody - and repositioning itself as a lean, blockchain-native payments platform, the analyst tells investors in a research note. Clear Street adds that it sees consolidated revenue for Bakkt growing at a 14% CAGR through 2027, supported by steady performance in Crypto Services and accelerating momentum from the DTR platform.

Benchmark

NULL -> Buy

initiated

$13

2025-09-08

Reason

Benchmark

Price Target

$13

2025-09-08

initiated

NULL -> Buy

Reason

Benchmark initiated coverage of Bakkt with a Buy rating and $13 price target.

Benchmark

Mark Palmer

Buy

initiated

$13

2025-09-08

Reason

Benchmark

Mark Palmer

Price Target

$13

2025-09-08

initiated

Buy

Reason

As previously reported, Benchmark analyst Mark Palmer initiated coverage of Bakkt with a Buy rating and $13 price target. Bakkt is "poised for a fresh start" after a period of restructuring with a streamlined focus and reset growth trajectory, says the analyst, who calls the divestiture of its custody business and the pending sale of its legacy loyalty business "a decisive exit from capital-intensive, non-core operations." The company is refocusing around three high-conviction initiatives under new leadership: a revamped "brokerage-in-a-box" solution, a new bitcoin treasury strategy and a stablecoin payments initiative, the analyst noted.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Bakkt Holdings Inc (BKKT.N) is -27.67, compared to its 5-year average forward P/E of -4.05. For a more detailed relative valuation and DCF analysis to assess Bakkt Holdings Inc 's fair value, click here.

Forward PE
Forward EV/EBITDA
Forward PS

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

N/A

5Y Average PE

-4.05

Current PE

-27.67

Overvalued PE

0.68

Undervalued PE

-8.79

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

-5.44

Current EV/EBITDA

-21.87

Overvalued EV/EBITDA

-0.16

Undervalued EV/EBITDA

-10.72

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

N/A

5Y Average PS

2.67

Current PS

27.67

Overvalued PS

7.06

Undervalued PS

-1.72