Bloom Energy Stock Is 31% Below Its Record. Here's Where I Think It Will Be in 2030.
The fuel cell maker's earnings could nearly triple by 2030. Will the stock follow?
Bloom Energy's stock has experienced significant fluctuations since its record high, currently trading 31% below its peak. Despite a recent dip of 9% on October 14, the shares have seen a 1,000% increase over the past five years. My projection for Bloom's stock price in 2030 is around $230, which is near its current trading level.
I believe the company has the potential to grow further in the next four years, but I'm skeptical about how today's valuation can accommodate such growth. Bloom reported a 37% revenue increase in 2025, reaching $2.02 billion, and this growth accelerated in the second quarter, with revenue up 166% year-over-year to $1.07 billion.
Management anticipates $3.9 billion to $4.2 billion in revenue for 2026, roughly double the previous year's total. I anticipate Bloom's revenue reaching about $12 billion in 2030, representing a tripling of this year's guidance. This would require a growth rate of approximately 31% per year after 2026, which is under a third of this year's pace.
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