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Bloom Energy (NYSE:BE) captured the AI power narrative in 2026 as the solid oxide fuel cell maker became the go-to onsite power solution for hyperscalers.
Our 24/7 Wall St. price target for Bloom Energy is $251.84, implying modest upside from the current price of $245.66. After a parabolic move, fundamentals remain stunning, but price has largely caught up to the story.
24/7 Wall St. Price Target Summary
| Metric | Value |
|---|---|
| Current Price | $245.66 |
| 24/7 Wall St. Price Target | $251.84 |
| Upside | 2.5% |
| Recommendation | HOLD |
| Confidence Level | 90% |
From $45 to $245 in a Year
Bloom is up 435.89% over the past year and 171.86% year to date, though shares have cooled 2.95% over the past month after touching a 52-week high of $351.28.
The Q2 report on July 28, 2026 triggered the latest re-rating. Revenue hit $1.065 billion, up 165.5% year over year, non-GAAP EPS of $0.78 topped consensus by 91.83%, and management lifted 2026 revenue guidance to $3.9 billion to $4.2 billion. Retail sentiment turned bullish in August after Texas paused new data center approvals, read as favorable for onsite fuel cell providers.
The Case for $321 or Higher
Bull case scenario points to $321.44 within 12 months, roughly 30.85% upside. CEO KR Sridhar told analysts that Brookfield expanded its infrastructure partnership from $5 billion to $25 billion in nine months, and total backlog sits at $20 billion.
Product gross margin expanded to 37.2% while operating income surged 737% year over year. If Bloom converts a meaningful share of the 30 to 40 gigawatts of AI capacity coming online in 2027, the analyst target of $273.51 could prove conservative.
What Could Go Wrong
Our bear case lands at $187.24, or roughly 23.78% downside. Forward P/E is 81x and trailing P/E stretches to 279x, leaving little room for slippage. Quarterly earnings growth reads negative year over year at -98.8%, and insider activity has skewed toward selling. Beta of 3.83 means any AI capex pause hits hard.
Bulls counter that trailing earnings comparisons reflect prior-year restructuring: product gross margin expanded roughly 604 basis points year over year in Q2, and cash on hand of $2.67 billion gives Bloom room to scale manufacturing without dilution.
How Bloom Stacks Up Against Vertiv and GE Vernova
Vertiv (NYSE:VRT | VRT Price Prediction) is the closest AI data center infrastructure comp. Vertiv guided 2026 EPS to $6.65 to $6.75 on revenue of $13.8 billion to $14.2 billion, and Q2 organic sales grew 18%. VRT trades at a much lower forward multiple than Bloom’s 81x, making our BE target look full rather than conservative.
GE Vernova (NYSE:GEV) offers the gas turbine alternative Bloom is displacing. GEV carries a $176 billion backlog and raised 2026 revenue guidance to $45.5 billion to $46.5 billion on the AI power thesis. On price-to-sales, Bloom’s 22x multiple sits well above GEV’s, reinforcing our view that $251.84 is a reasonable base case.
Bloom Energy Price Prediction 2026-2030
The 24/7 Wall St. price target of $251.84 puts Bloom near fair value with 90% confidence. A pullback below $200 that keeps the AI thesis intact would improve the risk/reward, particularly if Bloom announces another hyperscaler direct contract. The setup weakens if forward guidance flatlines or if hyperscaler capex commentary softens on 3Q calls.
| Year | 24/7 Wall St. Price Target |
|---|---|
| 2026 | $251.84 |
| 2027 | $251.84 |
| 2028 | $263.07 |
| 2029 | $274.30 |
| 2030 | $285.53 |
These projections assume Bloom converts its $20 billion backlog on schedule and AI data center capex holds. Significant upside could result from further Brookfield capital expansion or additional hyperscaler direct contracts.
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