Up 160% YTD, Will Bloom Energy’s Rally Continue?

By Vandita Jadeja Published Jul 10, 8:30AM EDT

Quick Read

Bloom Energy (BE) soared over 1,000% in the past year on AI power demand, but our SELL target of $218.80 implies 18% downside.
Bloom's Q1 2026 revenue grew 130% year over year and beat estimates by 39%, yet a forward P/E of 120x signals stretched valuation.
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Up 160% YTD, Will Bloom Energy’s Rally Continue? — © bloomenergy / Flickr

Bloom Energy (NYSE:BE) has become one of the AI power trade’s biggest winners, with shares up 1,006.61% over the past year on the “bring-your-own-power” thesis for hyperscalers. The question now is whether the price still makes sense.

Our 24/7 Wall St. price target for Bloom Energy is $218.80 over the next 12 months. Against a current price of $265.95, that implies downside of roughly 17.73%. Our recommendation is sell, with high confidence at 90%.

24/7 Wall St. Price Target Summary

Metric	Value
Current Price	$265.95
24/7 Wall St. Price Target	$218.80
Upside/Downside	-17.73%
Recommendation	SELL
Confidence Level	90%

Why We Could Be Wrong

Our price target sits below where Bloom trades today. Real upside could come from further expansion of the $5 billion Brookfield AI infrastructure partnership or additional hyperscaler wins beyond the announced Oracle collaboration. A full bull case appears below outlining why Bloom could outperform our model.

From $34 to $265 in a Year

Bloom is up 166.65% year to date and sits about 20% below its 52-week high of $351.28. Q1 2026 earnings on April 28, 2026 drove momentum: revenue of $751.05 million beat estimates by 39.08% and grew 130.37% year over year, with non-GAAP EPS of $0.44 versus $0.1285 consensus.

Management raised FY2026 revenue guidance to $3.40B to $3.80B and EPS to $1.85 to $2.25. A June tariff-reset framework added further fuel.

The Case for $300 and Beyond

Bulls cite total backlog of $20 billion, product backlog at $6 billion, with all shipments now 800V DC ready for next-gen data centers. Factory capacity expands doubling from 1GW to 2GW by end of 2026. CEO KR Sridhar told investors, “Bring-your-own-power has shifted from a slogan to a business necessity for AI hyperscalers and manufacturing facilities. This shift is secular and growing.”

Consensus stands at 14 buy ratings against 2 sell, with an average target of $280.93. Our bull-case scenario points to $302.60 within 12 months if hyperscaler orders compound.

Bloom is a natural fit for the AI power infrastructure thesis outlined in our 7 Stocks Powering the AI Boom (That Aren’t Chipmakers) reader report.

What Could Go Wrong

The bear case starts with valuation. Forward P/E sits at 120x, price-to-sales at 34x, and EV/EBITDA at 688x. Customer concentration is real: Q1 2026 related-party sales to Brookfield JVs hit $373.30 million, up from $2.80 million a year earlier.

Insider activity has been net selling across 31 recent transactions. Our bear scenario models $159.65, a -39.97% outcome, if AI capex slows or tax credits are pared back.

Bloom Energy Price Prediction 2026-2030

Our 24/7 Wall St. price target of $218.80 and sell rating at 90% confidence reflect a simple view: the story is real, and the multiple has run well ahead of it. For long-time holders sitting on multi-bagger gains, the model’s math frames the risk/reward as skewed to the downside from here.

Year	24/7 Wall St. Price Target
2026	$218.80
2027	$235.00
2028	$250.00
2029	$210.00
2030	$197.69

These projections assume Bloom continues executing on hyperscaler deployments. Significant upside or downside could result from AI data center demand pacing and the durability of federal tax-credit support.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Vandita Jadeja →

Vandita Jadeja is a financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis. She has contributed to several publications, including the Joy Wallet, Benzinga, The Motley Fool and InvestorPlace.