Bloom Energy Corporation (NYSE:BE) Stock Has Average Price Target of $263.05 According to Brokerages

Key Points

• Analysts are broadly neutral: Bloom Energy has a consensus “Hold” rating from 26 brokerages and an average 12-month price target of $263.05.
• Recent results were strong: Third-quarter revenue climbed 138% year over year to $1.24 billion, and EPS of $0.94 beat estimates; the company also raised its full-year revenue outlook to $4.4 billion–$4.6 billion.
• Demand and risks remain in focus: Bloom agreed with NTT DATA to deploy up to 900 megawatts of onsite power for data-center projects, while concerns about AI-sector growth, regulation and valuation have weighed on the shares.

Bloom Energy Corporation (NYSE:BE - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty-six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $263.05.

A number of analysts have issued reports on BE shares. BTIG Research lowered their target price on Bloom Energy from $295.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. JPMorgan Chase & Co. cut their price target on Bloom Energy from $314.00 to $292.00 and set an "overweight" rating for the company in a report on Friday, October 23rd. BMO Capital Markets cut Bloom Energy from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Evercore reissued an "outperform" rating on shares of Bloom Energy in a research report on Monday, October 26th. Finally, Robert W. Baird raised their price objective on shares of Bloom Energy from $310.00 to $351.00 and gave the stock an "outperform" rating in a research note on Thursday, October 15th.

Insider Activity

In other Bloom Energy news, insider Aman Joshi sold 8,437 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $277.17, for a total value of $2,338,483.29. Following the sale, the insider directly owned 147,092 shares in the company, valued at $40,769,489.64. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey R. Immelt sold 30,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the completion of the sale, the director owned 201,243 shares in the company, valued at $48,078,965.13. This represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 85,859 shares of company stock worth $20,994,650. Corporate insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BE. Jennison Associates LLC lifted its holdings in shares of Bloom Energy by 20,074.4% during the 1st quarter. Jennison Associates LLC now owns 2,687,029 shares of the company's stock worth $364,066,000 after acquiring an additional 2,673,710 shares during the period. Bank of America Corp DE boosted its position in shares of Bloom Energy by 6.1% during the 1st quarter. Bank of America Corp DE now owns 2,211,880 shares of the company's stock valued at $299,688,000 after acquiring an additional 126,649 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company's stock valued at $401,849,000 after acquiring an additional 583,135 shares in the last quarter. Elemental Capital Partners LLC increased its stake in Bloom Energy by 2.5% in the third quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company's stock valued at $287,791,000 after acquiring an additional 25,625 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Bloom Energy in the second quarter valued at about $296,413,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Key Bloom Energy News

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy and NTT DATA agreed to deploy up to 900 megawatts of onsite power across multiple data-center projects worldwide, reinforcing demand for Bloom’s fuel cells. NTT DATA agreement with Bloom Energy
• Positive Sentiment: Recent results and guidance remain strong: third-quarter revenue rose 138% year over year to $1.24 billion, earnings beat estimates, and Bloom raised its full-year revenue outlook to $4.4 billion–$4.6 billion. Bloom Energy raises full-year outlook
• Positive Sentiment: Barclays upgraded BE to Overweight, citing demand for reliable onsite power, including from data centers. Barclays upgrade and Bloom demand trends
• Neutral Sentiment: Director Barbara J. Burger sold 2,333 shares, about 6% of her holdings, while director John Chambers also recently disclosed a share sale. Insider sales can attract attention, though both directors retained substantial stakes. SEC filing for Barbara J. Burger transaction
• Negative Sentiment: Investors are concerned that political or regulatory changes after the midterms could slow AI data-center construction and its associated power demand. The broader concern hit fuel-cell and AI-related stocks, despite Bloom’s NTT DATA deal. Bloom Energy slides amid AI data-center concerns
• Negative Sentiment: Some analysts have warned that negative AI-sector sentiment and questions about future growth and margins could pressure the shares; BE’s high valuation may leave it particularly sensitive to shifts in expectations. Analyst downgrades Bloom Energy to Hold

Bloom Energy Trading Down 16.4%

Shares of NYSE:BE opened at $167.51 on Friday. The company has a market cap of $49.53 billion, a P/E ratio of 102.77, a P/E/G ratio of 2.02 and a beta of 3.63. The stock's 50-day moving average is $246.89 and its 200-day moving average is $220.87. Bloom Energy has a 52-week low of $75.70 and a 52-week high of $351.28. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.15 earnings per share. The firm's revenue for the quarter was up 138.1% on a year-over-year basis. Equities research analysts predict that Bloom Energy will post 2.61 earnings per share for the current year.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.

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