Bloom Energy (NYSE:BE) Given New $65.00 Price Target at Wells Fargo & Company

Key Points

• Bloom Energy has had its price target increased by Wells Fargo from $38.00 to $65.00, with an "equal weight" rating, indicating a potential downside of 3.35% from the previous close.
• Other analysts have also raised their targets for Bloom Energy, with upgrades from Susquehanna, Mizuho, JPMorgan Chase & Co., and UBS Group, reflecting a strong consensus rating of "Moderate Buy" for the stock.
• Following the latest earnings report, Bloom Energy reported a 19.5% year-over-year increase in revenue with an EPS of $0.10, surpassing analyst expectations.

Bloom Energy (NYSE:BE - Get Free Report) had its target price lifted by equities research analysts at Wells Fargo & Company from $38.00 to $65.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential downside of 3.35% from the company's previous close.

Other analysts also recently issued reports about the company. Susquehanna raised their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Mizuho lifted their price objective on Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. UBS Group lifted their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Roth Capital boosted their target price on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average target price of $29.61.

Bloom Energy Stock Up 6.8%

NYSE BE opened at $67.25 on Friday. Bloom Energy has a one year low of $9.02 and a one year high of $68.74. The company has a market cap of $15.74 billion, a P/E ratio of 1,681.67 and a beta of 3.28. The business has a fifty day moving average price of $39.96 and a 200 day moving average price of $27.18. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. During the same period last year, the company earned ($0.06) EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Research analysts anticipate that Bloom Energy will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the chief executive officer owned 2,368,951 shares of the company's stock, valued at $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the transaction, the insider directly owned 109,860 shares in the company, valued at approximately $2,503,709.40. This trade represents a 7.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 308,477 shares of company stock valued at $14,924,815 over the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Prospera Financial Services Inc increased its holdings in shares of Bloom Energy by 0.3% in the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock valued at $2,285,000 after purchasing an additional 313 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Bloom Energy by 2.1% in the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock valued at $500,000 after purchasing an additional 425 shares during the period. Blair William & Co. IL increased its holdings in shares of Bloom Energy by 2.8% in the second quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock valued at $389,000 after purchasing an additional 437 shares during the period. CWM LLC increased its holdings in shares of Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after purchasing an additional 644 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Bloom Energy by 2.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 26,949 shares of the company's stock valued at $645,000 after purchasing an additional 658 shares during the period. Institutional investors and hedge funds own 77.04% of the company's stock.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.