Bakkt Share Price Spikes 17% After Analyst Triples Price Target to $40

Bakkt Holdings (BKKT) stock surged 17% on Tuesday following a dramatic price target revision from Benchmark analysts, who more than tripled their target to $40 per share. The cryptocurrency infrastructure company's shares extended their recent rally, reflecting growing institutional confidence in digital asset platforms.

Bakkt, which provides Bitcoin custody services and cryptocurrency trading solutions for institutional clients, has benefited from increased mainstream adoption of digital assets. The company's blockchain-based platform facilitates secure cryptocurrency transactions and storage, positioning it at the intersection of traditional finance and the emerging DeFi ecosystem.

Benchmark's bullish outlook signals strong market sentiment toward cryptocurrency infrastructure stocks as Bitcoin and other digital assets gain institutional acceptance. The revised price target represents significant upside potential from current levels, highlighting Bakkt's strategic role in the evolving cryptocurrency landscape.

The stock's momentum reflects broader positive sentiment in the crypto sector, with investors increasingly recognizing the value of companies providing essential blockchain infrastructure and digital asset services to institutional clients seeking secure cryptocurrency exposure.