The post Bakkt Share Price Spikes 17% After Analyst Triples Price Target to $40 appeared on BitcoinEthereumNews.com. In brief Bakkt’s share price was up about 17% on Tuesday. Benchmark raised its price target to $40, highlighting three areas for potential growth. The investment bank called the stock’s recent rally “a validation” of moves Bakkt CEO Akshay Naheta has made. Bakkt Holdings stock price jumped 17% on Tuesday, adding to its recent rally after Benchmark Company more than tripled its one-year price target on the provider of digital asset services to $40. The investment bank noted growth potential in Bakkt’s three main businesses—crypto infrastructure, stablecoin payments, and crypto infrastructure—and its Bitcoin treasury, and called the stock’s 170% price jump over a two-week period earlier this month “a validation of the moves” the company’s CEO Akshay Naheta has made since taking over his role in August. “BKKT remains an attractive buy even after its sharp run-up as it continues to screen as inexpensive relative to both its growth potential and peers in the Fintech/digital asset ecosystem,” Benchmark analyst Mark Palmer wrote. “While the stock’s surge reflected newfound attention on the company… we do not believe it has come close to fully reflecting the breadth of its optionality across three high-growth themes.” Bakkt was recently changing hands just above $30, its first time above that threshold since late January, although it’s down 97% since reaching an all-time high above $1,060 in 2021, according to Yahoo Finance data. It has struggled to crack $10 for much of the year. That performance prompted the company to reposition itself.  In his note, Palmer called BKKT’s valuation “modest” relative to those of other prominent publicly traded crypto firms, including Coinbase, Circle, and Robinhood. Palmer lauded the recent addition of veteran crypto industry investor Mike Alfred to the Bakkt board. “Mr. Alfred’s current role running private investment partnership Alpine Fox LP, alongside his board… The post Bakkt Share Price Spikes 17% After Analyst Triples Price Target to $40 appeared on BitcoinEthereumNews.com. In brief Bakkt’s share price was up about 17% on Tuesday. Benchmark raised its price target to $40, highlighting three areas for potential growth. The investment bank called the stock’s recent rally “a validation” of moves Bakkt CEO Akshay Naheta has made. Bakkt Holdings stock price jumped 17% on Tuesday, adding to its recent rally after Benchmark Company more than tripled its one-year price target on the provider of digital asset services to $40. The investment bank noted growth potential in Bakkt’s three main businesses—crypto infrastructure, stablecoin payments, and crypto infrastructure—and its Bitcoin treasury, and called the stock’s 170% price jump over a two-week period earlier this month “a validation of the moves” the company’s CEO Akshay Naheta has made since taking over his role in August. “BKKT remains an attractive buy even after its sharp run-up as it continues to screen as inexpensive relative to both its growth potential and peers in the Fintech/digital asset ecosystem,” Benchmark analyst Mark Palmer wrote. “While the stock’s surge reflected newfound attention on the company… we do not believe it has come close to fully reflecting the breadth of its optionality across three high-growth themes.” Bakkt was recently changing hands just above $30, its first time above that threshold since late January, although it’s down 97% since reaching an all-time high above $1,060 in 2021, according to Yahoo Finance data. It has struggled to crack $10 for much of the year. That performance prompted the company to reposition itself.  In his note, Palmer called BKKT’s valuation “modest” relative to those of other prominent publicly traded crypto firms, including Coinbase, Circle, and Robinhood. Palmer lauded the recent addition of veteran crypto industry investor Mike Alfred to the Bakkt board. “Mr. Alfred’s current role running private investment partnership Alpine Fox LP, alongside his board…