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Bakkt, Inc.NYSE:BKKT Stock Report

Market Cap US$376.1m
Share Price
US$8.43
US$40
78.9% undervalued intrinsic discount
1Y-31.5%
7D10.5%
1D
Portfolio Value
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Bakkt, Inc.

NYSE:BKKT Stock Report

Market Cap: US$376.1m

Bakkt (BKKT) Stock Overview

Engages in digital building financial infrastructure business. More details

BKKT fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance0/6
Financial Health5/6
Dividends0/6

Risk Analysis

Shareholders have been substantially diluted in the past year

Has less than 1 year of cash runway

Volatile share price over the past 3 months compared to the US market


BKKT Community Fair Values

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See what 17 others think this stock is worth. Follow their fair value or set your own to get alerts.

Analyst Price Targets

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Bakkt, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Bakkt
Historical stock prices
Current Share PriceUS$8.96
52 Week HighUS$49.79
52 Week LowUS$6.87
Beta5.86
1 Month Change8.21%
3 Month Change-6.96%
1 Year Change-31.50%
3 Year Change-74.76%
5 Year Change-96.49%
Change since IPO-96.74%

Recent News & Updates

Seeking Alpha • May 29

Bakkt: The 3 Engines That Overhaul The Business Stack (Upgrade)

Summary Bakkt is undergoing a strategic overhaul, focusing on three operational engines: Bakkt Markets, Bakkt Agent, and Bakkt Global. BKKT’s Q1 FY26 results show $243.6M in crypto services revenue, reduced OpEx, and a strong $82.6M cash position with no long-term debt. The upcoming launch of Bakkt Agent is the key near-term catalyst, potentially boosting high-margin, SaaS-like revenue and driving BKKT toward breakeven EBITDA. I upgrade to a buy rating, contingent on timely Bakkt Agent launch and successful partner onboarding, but I also note fierce competition and execution risks. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • May 29

Bakkt: The 3 Engines That Overhaul The Business Stack (Upgrade)

Summary Bakkt is undergoing a strategic overhaul, focusing on three operational engines: Bakkt Markets, Bakkt Agent, and Bakkt Global. BKKT’s Q1 FY26 results show $243.6M in crypto services revenue, reduced OpEx, and a strong $82.6M cash position with no long-term debt. The upcoming launch of Bakkt Agent is the key near-term catalyst, potentially boosting high-margin, SaaS-like revenue and driving BKKT toward breakeven EBITDA. I upgrade to a buy rating, contingent on timely Bakkt Agent launch and successful partner onboarding, but I also note fierce competition and execution risks. Read the full article on Seeking Alpha
Analysis Article • Oct 09

Bakkt Holdings, Inc. (NYSE:BKKT) Stock Catapults 344% Though Its Price And Business Still Lag The Industry

Bakkt Holdings, Inc. ( NYSE:BKKT ) shares have had a really impressive month, gaining 344% after a shaky period...
Seeking Alpha • Mar 18

Bakkt Holdings: Abandon Ship?

Summary I downgraded Bakkt Holdings to 'sell' due to ongoing massive losses and declining transacting accounts, which have very likely worsened since November. Bakkt faces a 73% top line revenue loss after contract terminations from both Bank of America and Webull, severely impacting its business. With significant operational expenses and the failure of the rumored TMTG buyout, Bakkt's future looks bleak and challenging. BKKT shareholders should not wait for earnings; sell now and move on due to red flags and limited recovery options. Read the full article on Seeking Alpha
Seeking Alpha • Feb 06

Bakkt Needs A Trump Media Salvo As Liquidity Collapses

Summary Bakkt stock price surged on speculation of a buyout by Trump's DJT, but dire financials and limited growth potential have shifted my rating to sell. Bakkt Holdings faces severe liquidity issues with cash and short-term investments at $36 million, a 58% decline year-over-year, and high cash burn. Despite a 60.4% revenue increase in the company's fiscal 2024 third quarter, BKKT's thin margins and high operational costs led to a net loss of $2.89 million. DJT's launch of Truth.Fi reduces the likelihood of acquiring BKKT, which is struggling with negative cash flow and an unsustainable financial position. Read the full article on Seeking Alpha
Seeking Alpha • Nov 19

Bakkt: Q3 Earnings And TMTG Buyout Rumors

Summary Bakkt's stock surged due to buyout rumors involving Trump Media and Technology Group, despite ongoing financial challenges. Bakkt's Q3 earnings showed a 60% YoY top-line revenue increase, but the company continues to burn capital with a $27.4 million operating loss. Bakkt's long-term transacting account metrics are declining, with a 42% drop over the last year. Given the potential all-stock transaction, selling the buyout rumor is likely a more favorable outcome than the buyout itself for BKKT shareholders. For TMTG, the company has plenty of cash to do the deal without diluting DJT shareholders. An all-stock deal would be a savvy way to capitalize on a grossly overvalued stock. Read the full article on Seeking Alpha
Analysis Article • Nov 19

Bakkt Holdings, Inc.'s (NYSE:BKKT) Share Price Boosted 163% But Its Business Prospects Need A Lift Too

Bakkt Holdings, Inc. ( NYSE:BKKT ) shareholders would be excited to see that the share price has had a great month...
Seeking Alpha • Sep 24

Bakkt Holdings: High Cash Burn Ramps With Sale Unlikely To Be Positive

Summary Bakkt Holdings stock has plummeted 83% year-to-date due to net losses and significant cash burn. To comply with Nasdaq's $1 minimum listing requirement, BKKT executed a 1-for-25 reverse stock split in April. Dilution over the last 1 year at just under 70% and free cash burn of $66 million in the recent quarter highlight the liquidity headwind facing the company. Read the full article on Seeking Alpha
Seeking Alpha • Sep 15

Bakkt Holdings: A Tough Spot To Be In

Summary Bakkt Holdings' poor public track record and uncertain regulations make it a risky investment. Despite some fundamental KPI improvements, Bakkt's reputation issues and lack of profitability deter stakeholders from trusting the platform. Recent KPIs show growth in crypto-enabled accounts and assets under custody. Avoid investing in Bakkt Holdings stock for now. Read the full article on Seeking Alpha
Analysis Article • Mar 09

Lacklustre Performance Is Driving Bakkt Holdings, Inc.'s (NYSE:BKKT) 31% Price Drop

Unfortunately for some shareholders, the Bakkt Holdings, Inc. ( NYSE:BKKT ) share price has dived 31% in the last...
Seeking Alpha • Feb 01

Bakkt: Undervalued Opportunity With Bottom Line Expansion

Summary Bakkt has underperformed since going public, with a price return of -84%. Potential rebound could be in sight as plan to reach positive adjusted EBITDA to instill confidence seems within reach. At $1.54 today, Bakkt appears undervalued, in my opinion. Possibility of a crypto bull run at the end of the year due to two major Bitcoin events would also drive significant boost to transaction volume and top-line growth. Read the full article on Seeking Alpha
Analysis Article • Jan 24

Bakkt Holdings, Inc. (NYSE:BKKT) Not Doing Enough For Some Investors As Its Shares Slump 26%

Bakkt Holdings, Inc. ( NYSE:BKKT ) shares have retraced a considerable 26% in the last month, reversing a fair amount...

Shareholder Returns

BKKTUS Capital MarketsUS Market
7D10.5%3.0%0.5%
1Y-31.5%11.2%23.5%

Return vs Industry: BKKT underperformed the US Capital Markets industry which returned 11.2% over the past year.

Return vs Market: BKKT underperformed the US Market which returned 23.5% over the past year.

Price Volatility

Is BKKT's price volatile compared to industry and market?
BKKT volatility
BKKT Average Weekly Movement14.1%
Capital Markets Industry Average Movement3.5%
Market Average Movement7.2%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.1%

Stable Share Price: BKKT's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: BKKT's weekly volatility has decreased from 21% to 14% over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
201848Akshay Nahetawww.bakkt.com

Bakkt, Inc. engages in digital building financial infrastructure business. The company offers Bakkt Market solutions, which enables institutions to launch secure, compliant, and advanced digital asset brokerage, trading and payment capabilities through a plug-and-play platform; Bakkt Agent provides programmable access to Bakkt’s financial infrastructure through an intelligent software layer that coordinates onboarding, account creation, funding, and global money movement; and Bakkt Global enables Bakkt to expand its technology and infrastructure into international markets. It also provides solutions that enable institutional participation in the digital asset economy.

Bakkt, Inc. Fundamentals Summary

How do Bakkt's earnings and revenue compare to its market cap?
BKKT fundamental statistics
Market capUS$376.08m
Earnings (TTM)-US$95.15m
Revenue (TTM)US$1.51b
0.3x
P/S Ratio
-4.2x
P/E Ratio

Is BKKT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BKKT income statement (TTM)
RevenueUS$1.51b
Cost of RevenueUS$1.62b
Gross Profit-US$104.49m
Other Expenses-US$9.34m
Earnings-US$95.15m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)-2.13
Gross Margin-6.91%
Net Profit Margin-6.29%
Debt/Equity Ratio0%

How did BKKT perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/15 21:54
End of Day Share Price 2026/06/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Bakkt, Inc. is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark PalmerBenchmark Company
Peter ChristiansenCitigroup Inc
Jeffrey CantwellWells Fargo Securities, LLC