Why Bloom Energy Stock Continues to Rise

Bloom Energy (BE 12.36%) Stocks are booming. Shares of the fuel cell renewable energy pioneer have risen for the fourth straight day, including a massive 17% surge in value on Tuesday and an additional 11.7% surge as of 10:15 a.m. ET this morning.

We can thank Wall Street for keeping the good times rolling. On Monday, wells fargo Bloom stock target price was raised to $14 per share. On Tuesday, RBC Capital reiterated its Buy rating on the stock, along with a $14 price target.

What Wall Street Says About Bloom Energy Stock

Wells Fargo kicked off the rally with a note Monday touting growing demand for Bloom Energy’s fuel cell-powered generators to power cloud data centers. “The timing of a major deal is uncertain,” the analyst warned. Still, Wells expects sales to grow in 2025 and wants to stay ahead of the curve.

RBC said Bloom was working to better explain to investors how it would “evaluate execution progress,” citing a meeting the bank held with Bloom’s CFO.

Is Bloom stock a buy?

And to put it bluntly, Bloom has some work to do.

The company’s earnings report two weeks ago had omissions from both the top and bottom lines, with revenue down 14.5% and Bloom reporting a loss of $0.25 per share under generally accepted accounting principles (GAAP). This was a big disappointment, coming just one quarter after Bloom reported fourth-quarter 2023 earnings. That is, first quarter revenue. always It’s been almost 10 years since we reported as a public company.

That mistake has analysts casting doubt on Bloom’s hopes that it can be profitable at least on an adjusted basis this year and report an honest full-year GAAP profit next year. do not misunderstand. 2025 could still be the year that Bloom finally turns a profit and makes up for a decade of disappointing shareholders.

But with Bloom stock trading above $17 today, and even fans on Wall Street saying the stock is only worth $14, investors might want to be cautious about buying.