Bloom Energy (NYSE:BE) Given New $90.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Bloom Energy from $40.00 to $90.00, indicating an "overweight" rating on the stock, which suggests a potential downside of 0.49% from its current price.
• Bloom Energy reported a revenue increase of 19.5% year-over-year for the last quarter, with earnings per share of $0.10, surpassing analysts' expectations of $0.02.
• The consensus rating for Bloom Energy is currently a "Hold" with a consensus price target of $43.82, as per analyst recommendations which range from Strong Buy to Sell.

Bloom Energy (NYSE:BE - Get Free Report) had its price objective increased by analysts at JPMorgan Chase & Co. from $40.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 0.49% from the company's current price.

Several other equities research analysts also recently commented on BE. Royal Bank Of Canada set a $75.00 target price on Bloom Energy in a report on Tuesday. Bank of America boosted their target price on shares of Bloom Energy from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Tuesday, September 23rd. BTIG Research upped their target price on shares of Bloom Energy from $42.00 to $80.00 and gave the company a "buy" rating in a research note on Monday. UBS Group reaffirmed an "underperform" rating on shares of Bloom Energy in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $43.82.

Bloom Energy Price Performance

Bloom Energy stock opened at $90.44 on Thursday. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $21.16 billion, a P/E ratio of 2,261.64 and a beta of 3.47. The firm has a fifty day moving average of $54.31 and a 200-day moving average of $32.32. Bloom Energy has a 52-week low of $9.02 and a 52-week high of $91.23.

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

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,870 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the sale, the insider directly owned 224,361 shares of the company's stock, valued at approximately $9,728,292.96. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Maciej Kurzymski sold 2,474 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the transaction, the insider owned 106,374 shares in the company, valued at $7,496,175.78. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,205 shares of company stock worth $14,919,283. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of BE. Prospera Financial Services Inc boosted its position in Bloom Energy by 0.3% during the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after acquiring an additional 313 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Bloom Energy by 2.1% during the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after purchasing an additional 425 shares during the period. Blair William & Co. IL grew its position in Bloom Energy by 2.8% during 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 in the last quarter. CWM LLC increased its stake in Bloom Energy by 23.7% in the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after buying an additional 644 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Bloom Energy by 2.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 26,949 shares of the company's stock worth $645,000 after buying an additional 658 shares in the last quarter. Institutional investors 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.

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