Bloom Energy Corporation (BE) is set to report its third-quarter results on Oct. 22, but the stock has weakened ahead of the announcement. On Oct. 14, shares dropped despite Roth Capital raising its price target to $260. In all, BE stock has fallen about 12% over the past month, caught up in the wider selloff in AI infrastructure names. I think the recent weakness creates an opportunity for investors looking three to five years ahead to examine the stock more closely.
The pullback comes right after the best quarter in Bloom’s history. In the second quarter, revenue jumped 166% to $1.065 billion, crossing $1 billion for the first time. Bloom also raised its full-year revenue guidance to $3.9 billion to $4.2 billion, roughly double last year’s total. Management said every major U.S. hyperscaler, along with more than a dozen neoclouds and AI labs, has approved its fuel cells for their data centers.
