TLDR
- Bloom Energy (BE) stock rose 5% pre-market on October 21 after Tuesday’s AI energy sell-off.
- Q3 results are due Thursday after the close, with revenue expected near $1.06 billion to $1.07 billion.
- Options traders are pricing in a move of about 9% after the report.
- Truist lifted its price target to $240 with a Hold rating, while the average target is about $285.
- The stock is down 14% over the past month, while the group is down about 5%.
Bloom Energy (BE) stock rose 5% in pre-market trading on Wednesday, October 21. It is bouncing back from a drop on Tuesday.
The stock was last priced at $233.75. That leaves it down 14.3% over the past month.
Tuesday’s slide came with other AI energy infrastructure names. A weak IPO from a South Korean data center company set off a sector sell-off.
What Wall Street Expects From Q3
Bloom reports Q3 results after the market closes on Thursday, October 22. Traders appear to be getting into position.
Consensus calls for revenue of about $1.06 billion to $1.07 billion. That would be up 107% from a year ago, or almost double.
Last quarter, Bloom reported revenue of $1.07 billion, up 166%. It also beat estimates for EPS and EBITDA.
The company rarely misses revenue estimates. Analysts have mostly kept their numbers unchanged over the past 30 days.
Options traders are pricing in a move of about 9% after the report. That is a wide range for a stock near $234.
Truist raised its price target from $218 to $240 on October 16. It kept its Hold rating.
The average analyst target is about $285. That is roughly 22% above the current price.
RBC Capital Markets says Bloom is well placed for a strong recovery in the fourth quarter of 2026. That adds to the pre-earnings mood.
Oracle and the AI Power Story
Bloom is the main power supplier for Oracle’s Project Jupiter campus in New Mexico. Analysts often point to it as a key source of demand.
Oracle said last week that construction is “progressing rapidly.” The stock rose on that news before Tuesday’s reversal.
The wider market is a little firmer today. The Nasdaq is up 0.7% and the S&P 500 is up 0.2%.
Acuity Brands is the only electrical equipment peer to report so far. It missed revenue estimates, with sales up 2.9%, and its stock did not move.
The group is down 5.1% on average over the past month. Bloom is down 14.3% over the same stretch.
Bloom’s 52-week low is $75.70. The company reports Thursday after the close.
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