Bloom Energy (BE) Stock Forecast & Price Target

Bloom Energy is experiencing significant growth, with a reported revenue of approximately $519 million for 3Q25, exceeding consensus estimates by around 21%, primarily driven by robust product sales that were 25% above expectations. The company is on track to achieve positive operating margins in 2024, fueled by increasing Energy Server and electrolyzer sales, while gross margins have improved by about 510 basis points year-over-year, reaching around 30%. Additionally, Bloom Energy's strategic contract with Oracle to deploy fuel servers rapidly enhances its growth trajectory and future revenue potential, contributing to a remarkable 200% increase in stock price quarter-to-date.

Bloom Energy faces fundamental challenges that contribute to a negative outlook on its stock, primarily characterized by projected revenue growth deceleration as U.S. power demand levels off in the coming years, with expectations of a slowdown from approximately 22% growth through 2030 to about 20% through 2040. Additionally, the cessation of management's disclosure on average selling prices (ASPs) raises concerns, particularly in the context of increased competition and potential cost overruns as the company scales its manufacturing capacity. Furthermore, notable risks, including the inability to commercialize hydrogen equipment, loss of key customers, and supply chain constraints, may significantly hinder Bloom Energy's operational stability and growth trajectory.