Bloom Energy Rose 15% in a Single Day to a Record High. Is BE Still a Buy at $329?

Key Stats for Bloom Energy Stock

• Current Price: $328.91 (June 18, 2026 close)
• Target Price (Mid): ~$940
• Street Target: ~$265
• Potential Total Return: ~185%
• Annualized IRR: ~26% / year
• Earnings Reaction: +27.21% (April 28, 2026)

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What Happened?

Bloom Energy (BE) just closed at an all-time high of $328.91, after spiking 15.41% in a single session on June 18 and touching an intraday record of $329.51. For a company that was structurally unprofitable a year ago, that is a remarkable repricing.

Here is the tension. The market treats Bloom as the default power source for AI, yet the stock now trades above the average Wall Street target of $263.65. The typical analyst thinks BE should fall from here, even as it keeps setting records. The question investors cannot yet answer: is momentum running ahead of the fundamentals, or is Wall Street still behind the story?

What Drove Bloom Energy Stock to a Record High

The June 18 jump stacked several catalysts. Bloom released a mid-year update to its Data Center Power Report, pointing to rapid AI data center growth through 2030 as grid constraints push developers toward onsite generation. The analyst’s tone also shifted hard. Daiwa upgraded BE to Outperform with a $324 target, citing an inflection in orders, capacity, and margins, and UBS reiterated a Buy at $322. Even Bernstein, which initiated at Market Perform on June 16, conceded that Bloom’s solid oxide fuel cells, devices that convert fuel to electricity without combustion, are the fastest generation technology to deploy in its coverage universe. The skeptics now argue about valuation, not the technology.

The Deals Behind the Story

The spike sits on a foundation of contracts. In May, Bloom signed a master agreement with AI cloud company Nebius worth up to $2.6 billion over 10 years, covering roughly 328 megawatts of installed capacity. Bloom installs, operates, and maintains the systems, turning a hardware sale into a service annuity. That followed April’s Oracle expansion, where Oracle agreed to procure up to 2.8 gigawatts of capacity.

On the Q1 call, CEO K.R. Sridhar set expectations: “Becoming the sole power provider for Project Jupiter is a milestone for Bloom, but it’s not going to be a one-off project.” He added that well more than half of the current data center backlog already comes from other hyperscalers and neoclouds, not Oracle. The playbook repeats.

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The Numbers Behind the Re-Rating

Bloom posted Q1 2026 revenue of $751.1 million, up 130.4% year over year, its first quarter above 100% growth as a public company. The earnings reaction was telling: BE rose 27.21% on April 28. Operating income reached $129.7 million, up from $13.2 million a year earlier, lifting the operating margin to 17.3%. Management raised full-year revenue guidance to $3.4 billion to $3.8 billion, an 80% jump at the midpoint, and lifted gross margin guidance to around 34%.

CFO Simon Edwards named the structural driver: “This margin expansion highlights the significant operating leverage in the model as revenue growth continues to outpace cost growth.” That is the heart of the bull case, because scale itself is now expanding margins. Operating cash flow turned positive at $73.6 million in a seasonally weak quarter, and Bloom ended Q1 with $2.52 billion in cash.

Valuation is the hard part. BE trades around 23x NTM revenue and around 111x NTM EV/EBITDA. Peers trade far cheaper: GE Vernova near 6x revenue and 40x EV/EBITDA, Generac near 3x and 18x. The premium is defensible only if Bloom’s growth keeps outrunning the group, because the multiple leaves no room for a stumble. At $328.91 against a $263.65 Street target, the market has priced in a future the average analyst has not underwritten. 

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TIKR Advanced Model Analysis

• Current Price: $328.91
• Target Price (Mid): ~$940
• Potential Total Return: ~ 185%
• Annualized IRR: ~26% / year

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Two revenue drivers anchor the model: hyperscaler and neocloud contract velocity converting into deliveries, and a diverse, growing commercial and industrial base. The margin driver is operating leverage from manufacturing scale plus continued double-digit annual cost reductions, which lifts the net income margin into the low-to-mid 20s in the model’s later years. The primary risk is project timing, as the recent Crusoe data center pause showed hyperscaler schedules can slip.

The upside: if AI power demand compounds and Bloom stays the fastest path to power, the mid-case return is achievable. 

The downside: at over 100x forward EBITDA, any ramp delay or margin slip could trigger a sharp de-rating.

Conclusion

The cleanest test comes at the next earnings report, expected in late July 2026. Watch gross margin against management’s roughly 34% guide. Holding that line while revenue tracks toward the $3.4 billion to $3.8 billion range confirms that scale is still expanding margins, the entire premise of the premium. A miss, or guidance softening tied to project delays, would be the first real crack. Trading above where most analysts think it belongs, Bloom no longer has the cushion of low expectations.

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Should You Invest in Bloom Energy?

The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.

Pull up Bloom Energy, and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.

You can build a free watchlist to track Bloom Energy alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!