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BKKT
Upturn stock ratingUpturn stock rating

Bakkt Holdings Inc (BKKT)

Upturn stock ratingUpturn stock rating
$12.78
Last Close (24-hour delay)
Profit since last BUY-1.01%
upturn advisory
WEAK BUY
BUY since 31 days
  • BUY Advisory
  • SELL Advisory (Profit)​
  • SELL Advisory (Loss)​
  • Profit
  • Loss
  • Pass (Skip investing)
Upturn Stock infoUpturn Stock info Stock price based on last close
*as per simulation
(see disclosures)
Time period over
  • ALL
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Upturn Advisory Summary

06/27/2025: BKKT (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

ratingratingratingratingrating

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Number of Analysts

rating

0 Analysts rated it

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Year Target Price $13

Year Target Price $13

Analyst’s Price TargetsFor last 52 week
$13Target price
Low$6.81
Current$12.78
high$37.21

Analysis of Past Performance

Type Stock
Historic Profit -73.67%
Avg. Invested days 22
Today’s Advisory WEAK BUY
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 1.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 06/27/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 86.06M USD
Price to earnings Ratio -
1Y Target Price 13
Price to earnings Ratio -
1Y Target Price 13
Volume (30-day avg) -
Beta 5.22
52 Weeks Range 6.81 - 37.21
Updated Date 06/29/2025
52 Weeks Range 6.81 - 37.21
Updated Date 06/29/2025
Dividends yield (FY) -
Basic EPS (TTM) -4.98

Earnings Date

Report Date 2025-05-30
When After Market
Estimate -
Actual 1.1804

Profitability

Profit Margin -0.83%
Operating Margin (TTM) -1.7%

Management Effectiveness

Return on Assets (TTM) -5.47%
Return on Equity (TTM) -62.07%

Valuation

Trailing PE -
Forward PE -
Enterprise Value 85947647
Price to Sales(TTM) 0.02
Enterprise Value 85947647
Price to Sales(TTM) 0.02
Enterprise Value to Revenue 0.02
Enterprise Value to EBITDA 0.79
Shares Outstanding 6734320
Shares Floating 6408786
Shares Outstanding 6734320
Shares Floating 6408786
Percent Insiders 23.59
Percent Institutions 20.64

Analyst Ratings

Rating -
Target Price 13
Buy -
Strong Buy -
Buy -
Strong Buy -
Hold -
Sell -
Strong Sell -
Strong Sell -

ai summary icon Upturn AI SWOT

Bakkt Holdings Inc

stock logo

Company Overview

overview logo History and Background

Bakkt Holdings, Inc. was founded in 2018 as a subsidiary of Intercontinental Exchange (ICE). It aims to provide institutional and retail access to digital assets, initially focusing on Bitcoin futures. It went public in October 2021 via a SPAC merger with VPC Impact Acquisition Holdings.

business area logo Core Business Areas

  • Digital Asset Marketplace: Provides a platform for institutional investors to trade Bitcoin futures and options.
  • Crypto Solutions Platform: Offers solutions for businesses to integrate crypto into their existing systems, including custody, trading, and payment solutions. Services includes custody of crypto assets for institutions, digital asset trading capabilities, and crypto rewards and loyalty programs.

leadership logo Leadership and Structure

Gavin Michael is the CEO. The company has a typical corporate structure with departments for technology, finance, marketing, and operations, reporting to the executive team and Board of Directors.

Top Products and Market Share

overview logo Key Offerings

  • Bakkt Crypto Solutions: Offers a comprehensive platform for businesses to engage with cryptocurrency, including custody, trading, and reward programs. While specific market share data is difficult to obtain, Bakkt competes with Coinbase, BitGo, and Gemini in the custody and trading space. They earn revenue from transaction fees and custody fees.
  • Bitcoin Futures Contracts: Offers physically-settled Bitcoin futures contracts for institutional investors. While Bakkt pioneered physically-settled Bitcoin futures, competitors like CME Group also offer Bitcoin futures contracts. Market share data fluctuates, but CME Group generally holds a larger share of the institutional futures market.

Market Dynamics

industry overview logo Industry Overview

The cryptocurrency industry is characterized by volatility, regulatory uncertainty, and rapid technological advancements. There's growing institutional interest in digital assets, alongside increasing adoption by retail investors.

Positioning

Bakkt aims to bridge the gap between traditional finance and the crypto world by offering regulated and secure access to digital assets. Its competitive advantage lies in its enterprise solutions and ICE's backing.

Total Addressable Market (TAM)

The TAM for digital asset solutions is estimated to be in the trillions of dollars globally. Bakkt is positioned to capture a share of this market through its B2B solutions and partnerships, focusing on enterprise adoption. Their ability to innovate and adapt to the changing crypto regulations is key to this.

Upturn SWOT Analysis

Strengths

  • Strong parent company (ICE)
  • Secure and regulated platform
  • Focus on institutional clients
  • End-to-end crypto solutions

Weaknesses

  • Limited market share compared to competitors
  • High operating costs
  • Dependence on regulatory approvals
  • Volatility of crypto markets

Opportunities

  • Growing institutional adoption of crypto
  • Expansion of crypto use cases (e.g., payments)
  • Partnerships with major retailers and financial institutions
  • Development of new crypto-related products and services

Threats

  • Intense competition from established crypto exchanges
  • Regulatory uncertainty and potential restrictions
  • Cybersecurity risks and hacks
  • Economic downturn impacting crypto demand

Competitors and Market Share

competitor logo Key Competitors

  • COIN
  • SQ
  • PYPL
  • CME

Competitive Landscape

Bakkt faces significant competition from established crypto exchanges and payment processors. Its advantages include its focus on institutional clients and its backing by ICE, while disadvantages include its smaller market share and limited brand recognition.

Major Acquisitions

Apex Crypto

  • Year: 2023
  • Acquisition Price (USD millions): 200
  • Strategic Rationale: Expanded Bakkt's crypto trading and custody capabilities for institutional clients. Aims to increase the scale and offerings, adding brokerage as a service capabilities. Apex Crypto has a strong client base with established revenue streams.

Growth Trajectory and Initiatives

Historical Growth: Historical growth has been driven by increasing interest in crypto assets and the adoption of Bakkt's enterprise solutions.

Future Projections: Future growth depends on Bakkt's ability to expand its product offerings, secure partnerships, and navigate the regulatory landscape.

Recent Initiatives: Recent initiatives include expanding its crypto rewards program and partnerships with merchants to enable crypto payments.

Summary

Bakkt is a company with potential due to its ICE backing and focus on regulated crypto solutions for institutions. However, it faces stiff competition, and its financial performance is vulnerable to market volatility and regulatory changes. Recent acquisitions like Apex Crypto are strategic moves to expand its offerings, but execution will be critical for long-term success. The company needs to increase its market share and demonstrate sustainable growth to justify its valuation and capture the large TAM.

Peer Comparison

Sources and Disclaimers

Data Sources:

  • Company filings
  • Third-party market research reports
  • Financial news articles

Disclaimers:

This analysis is based on publicly available information and is not financial advice. Market conditions and company performance are subject to change. All market share values are approximate.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Bakkt Holdings Inc

Exchange NYSE
Headquaters Alpharetta, GA, United States
IPO Launch date 2020-11-19
President, Co-CEO & Director Mr. Andrew A. Main
Sector Technology
Industry Software - Infrastructure
Full time employees 559
Full time employees 559

Bakkt Holdings, Inc. offers software as a service and application programming interface solutions for crypto trading capabilities and loyalty for clients and customers. The company operates Bakkt Crypto, a trading platform to purchase, sell, store, deposit, and withdraw approved crypto assets, as well as transfer supported crypto assets between a custodial wallet maintained by Bakkt Crypto and external wallets; and BakktX, an order matching technology for smart order routing for trade matching. Its platform also offers a range of loyalty solutions, including redemption solutions for various rewards categories comprising travel, gift cards, and merchandise; travel solutions that offer a retail e-commerce booking platform, as well as live agent booking and servicing; and unified shopping experience. The company's client includes financial institutions, fintechs, broker-dealers, neobanks, registered investment advisers, funds, merchants, and other businesses. It markets its products and services using various business-to-business channels, such as direct marketing, including email marketing and targeted digital advertisements; indirect marketing; and its website, blog, and social media platforms. The company offers crypto services in the United States, Latin America, Europe, and Asia. Bakkt Holdings, Inc. was founded in 2018 and is headquartered in Alpharetta, Georgia.