The BE Report

This newsletter provides an analysis of Bloom Energy Corporation (BE), a leader in the fuel cell and clean energy technology sector.

Fundamental Analysis

Bloom Energy's fundamentals show a company on the path to profitability but still facing significant challenges. While the company has shown consistent revenue growth, it has yet to achieve sustained profitability. This is a common characteristic of high-growth technology companies in a developing market. Bloom Energy has been successful in a number of strategic partnerships and has a strong product offering, but its high operational costs and capital-intensive business model have weighed on its bottom line. The company's valuation, as measured by its P/E ratio, is not yet a relevant metric as it has not yet reported consistent positive earnings. Its financial health will depend on its ability to scale its operations and bring down costs while continuing to grow its customer base.

Technical Analysis

Recent technical analysis for BE indicates a mixed outlook. The stock has been trading in a somewhat volatile range due to a parabolic move up. Since May we have seen a upward movement of 326%, posting new all time highs. This stock continues to trend due to news of a potential surge in demand for its fuel cell technology to power AI data centers as well as a recent analyst upgrade and new partnerships.

Big News

• Strategic Partnerships: Bloom Energy recently announced a major partnership with a global utility company to deploy its solid oxide fuel cells for a large-scale power generation project. This deal is a significant validation of Bloom's technology and could lead to more contracts in the future.

• Product Innovation: The company unveiled a new, more efficient version of its Energy Server, which boasts a higher power density and a smaller footprint. This innovation could make Bloom's technology more competitive and attractive to a wider range of customers.

• Government Contracts: Bloom Energy has secured new contracts with several government agencies for power solutions for critical infrastructure. These contracts provide a stable revenue stream and demonstrate the reliability and security of its technology.

• Expansion into New Markets: The company has begun to expand its presence in the Asia-Pacific region, a fast-growing market for clean energy solutions. This strategic move could unlock significant long-term growth opportunities.

Expert Recommendations and Forecast

The consensus among analysts for Bloom Energy is a "Moderate Buy". This is an average rating, with some analysts assigning a "Strong Buy" and others a "Hold" or "Sell." The average 12-month price target for BE is approximately $19.50, with a wide range of forecasts. Some analysts have a high target of $28.00, while others have a low target of $12.00. This wide range of expert opinions reflects the inherent uncertainty and potential for both significant gains and losses in this volatile sector. Considering today’s open (9/16/25) is looking to be at $71.30, its probably safe to say there will be reworks done on price targets around next earnings.

Earnings and Outlook

Bloom Energy is estimated to report its next earnings on November 6, 2025. For the quarter ending in September 2025, analysts expect a consensus EPS of -$0.05 per share. While the company is not yet consistently profitable, its outlook is positive due to its growing order backlog and continued expansion into new markets and applications for its technology. Management is focused on improving operational efficiency and driving down manufacturing costs, which are crucial for achieving profitability in the long run.