{"id":46335,"date":"2025-09-08T15:05:25","date_gmt":"2025-09-08T15:05:25","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=46335"},"modified":"2025-09-08T15:05:25","modified_gmt":"2025-09-08T15:05:25","slug":"bakkt-reboots-with-fresh-strategy-initiate-at-buy-with-13-price-target-benchmark","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=46335","title":{"rendered":"Bakkt Reboots With Fresh Strategy; Initiate at Buy with $13 Price Target: Benchmark"},"content":{"rendered":"<div>\n<p>Bakkt Holdings (BKKT) is trying to reboot after a turbulent few years, Wall Street broker Benchmark said in a Monday report initiating coverage of the stock.<\/p>\n<p>Benchmark started coverage of the firm with a buy rating and a $13 price target. <\/p>\n<p>The shares climbed 1.3%, trading around $8.63 at publication time.<\/p>\n<p>Under new CEO Akshay Naheta, the firm has shed its custody arm and is <a href=\"https:\/\/www.coindesk.com\/business\/2025\/07\/28\/bakkt-sells-loyalty-business-and-pivots-to-pure-play-crypto-offers-shares\">selling off its legacy loyalty business<\/a>, moves meant to streamline operations and reset investor confidence, the report noted.<\/p>\n<p>The company\u2019s strategy now hinges on three initiatives: a \u201cbrokerage-in-a-box\u201d platform that lets banks and fintechs plug in crypto services; a multinational bitcoin treasury program anchored by a planned <a href=\"https:\/\/www.coindesk.com\/business\/2025\/08\/06\/bakkt-expands-global-bitcoin-play-with-30-stake-in-japan-s-marusho-hotta\">stake in Japan\u2019s Marusho Hotta<\/a> and expansion into India and South Korea; and a stablecoin payments network called Bakkt Agent, developed with Distributed Technologies Research (DTR), analyst Mark Palmer wrote.<\/p>\n<p>A key advantage, Palmer noted, is Bakkt\u2019s regulatory footprint. It has a BitLicense and money transmitter licenses across all 50 states, which gives it a compliance moat in a crowded field. <\/p>\n<p>Benchmark values Bakkt at 5x EV\/EBITDA on projected 2026 earnings, landing on its $13 target.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/21\/bakkt-names-akshay-naheta-as-co-ceo-amid-stablecoin-payments-push\"><span style=\"text-decoration:underline\">Bakkt Names Akshay Naheta as Co-CEO Amid Stablecoin Payments Push<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bakkt Holdings (BKKT) is trying to reboot after a turbulent few years, Wall Street broker Benchmark said in a Monday report initiating coverage of the stock. Benchmark started coverage of the firm with a buy rating and a $13 price target. The shares climbed 1.3%, trading around $8.63 at publication time. Under new CEO Akshay [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-46335","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/46335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46335"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/46335\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}