Bloom Energy Shares Bounce Premarket Ahead of Q3 Earnings
Bloom Energy Corporation (NYSE:BE) stock rose more than 4% in premarket trading on Monday as investors positioned for the company's third-quarter financial results scheduled for Thursday. The uptick follows a steep 21% decline last week, when a broader selloff across semiconductor and artificial intelligence shares dragged down related equipment suppliers. Despite recent volatility, the stock remains up 155% year to date.
Wall Street anticipates significant expansion driven by rising electricity demand from data centers powering artificial intelligence workloads. Analysts project third-quarter revenue to reach approximately $1.06 billion, up 104% from $519.05 million in the prior-year period. Adjusted earnings per share are forecasted at $0.70, compared with $0.15 a year ago, while EBITDA is expected to reach $249.29 million. Truist recently raised its price target on the stock to $240 from $218 while maintaining a Hold rating, citing higher average selling prices and strong demand.
Investors will focus on Thursday's report to evaluate whether Bloom Energy can sustain its growth momentum and fulfill full-year revenue guidance of $3.9 billion to $4.2 billion. Commercial commitments remain a core focus, including American Electric Power's planned $4 billion Wyoming facility to supply Google under a 20-year agreement and Oracle's deployment of Bloom fuel-cell microgrids for its Project Jupiter site.
Key points
- Bloom Energy (NYSE:BE) stock gained over 4% premarket on Monday following a 21% drop the previous week.
- Analysts expect third-quarter revenue to rise 104% year-over-year to $1.06 billion, with adjusted EPS at $0.70.
- Truist raised its price target on Bloom Energy to $240 from $218 while maintaining a Hold rating.
- Major corporate commitments include a 20-year deal supplying power to Google via American Electric Power.
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What are Wall Street's expectations for Bloom Energy's Q3 revenue and earnings?
Analysts expect Bloom Energy to generate $1.06 billion in third-quarter revenue, representing a 104% year-over-year increase, with adjusted earnings per share projected at $0.70 compared to $0.15 a year earlier.
What major projects are driving demand for Bloom Energy's fuel cell technology?
Bloom Energy technology powers a $4 billion project by American Electric Power to supply electricity to Google under a 20-year agreement. Additionally, Oracle uses Bloom fuel-cell microgrids as the primary power source for its Project Jupiter facility.
What is the current price target for Bloom Energy stock?
Truist recently raised its price target on Bloom Energy to $240 from $218 while keeping a Hold rating on the shares.