Bloom Energy

BE · NYSE

$222.65−$3.57 (−1.58%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $226.22

BE analyst rating

HoldConsensus of 26 analysts over the last 12 months. 42% rate it a buy.

Strong buy0
Buy11
Hold14
Underperform1
Sell0

12-month price target · 32 analysts

Average $277.78 (+24.8% upside)

Low: $99.93
Now: $222.65
High: $371.70

Upgrades and downgrades

The latest rating actions, newest first

BE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Oct 16, 2026	Maintains	Hold	$218.00 → $240.00	23%
Baird	Oct 15, 2026	Maintains	Outperform	$310.00 → $351.00	53%
UBS	Oct 7, 2026	Maintains	Buy	$325.00 → $350.00	60%
Bernstein	Oct 7, 2026	Maintains	Market Perform	$282.00	43%
Barclays	Oct 2, 2026	Maintains	Equal-Weight	$276.00 → $308.00	46%
Barclays	Oct 1, 2026	Maintains	Equal-Weight	$276.00 → $308.00	46%
Jefferies	Sep 29, 2026	Maintains	Hold	$229.00 → $264.00	58%
RBC Capital	Sep 28, 2026	Maintains	Outperform	$335.00	51%
Mizuho	Sep 14, 2026	Maintains	Outperform	$242.00 → $351.00	44%
Bernstein	Aug 27, 2026	Maintains	Market Perform	$282.00	43%

The case for and against

Updated Oct 14, 2026

Bull case

Bloom Energy is supported by a powerful demand pipeline, evidenced by the lease of a 158k sq ft Fremont facility alongside its current 164k sq ft plant, which could add about 5 GW of manufacturing capacity and suggests demand may exceed forecasts of 2.05 GW in 2027 and 4 GW in 2028. The company is also benefiting from a structural shift toward on-site generation as FERC’s June 18, 2026 ruling pushes large energy users to connect faster and makes fuel cells a more accepted grid-integration solution, while the expanded Oracle partnership could firm up 2.8 GW of demand. Fundamentally, the business is showing strong operating leverage with FY26 revenue guided to $3.4B-$3.8B, gross margin around 34%, and operating income of $600M-$750M, reflecting improving scale, backlog conversion, and better manufacturing efficiency.

Bear case

Bloom Energy is facing a fundamentally fragile outlook because its business depends on winning against entrenched alternatives like aeroderivative gas turbines while also absorbing execution risk from customer performance commitments that can trigger penalties if missed. Customer concentration further magnifies volatility, as in 2024 its top two customers represented 23% and 16% of revenues, and supply-chain, IP, and patent risks could pressure margins and disrupt deliveries globally. Even with 2Q26 revenue estimated at $837mn and fiscal 2026 revenue at $3,751mn, the stock already reflects lofty expectations at ~155x consensus 2026 EBITDA, while hydrogen commercialization remains uncertain and key projects could slip into 2027/2028.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.