Bloom Energy

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Bloom Energy Corp BE reported its fourth-quarter <a href="https://www.benzinga.com/news/earnings/25/02/44029264/bloom-energy-stock-is-surging-whats-going-on">results Thursday ahead of expectations</a>.



There is upside potential for the company's revenues from rising power demand, according to JPMorgan.



The Bloom Energy Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/587781de5064ed0001730076/mark-strouse">Mark Strouse</a> maintained a Neutral rating for Bloom Energy, while raising the price target from $16 to $18.



The Bloom Energy Thesis: The company reported its revenue and pro forma EBITDA at $572 million and $147 million, respectively, beating Street expectations of $538 million and $105 million, Strouse said in the note.



Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.



Bloom Energy delivered a gross margin beat "driven by favorable operating leverage from larger than expected revenues during the quarter," he added.



While headline product backlog was flat year-on-year, "management noted that backlog is becoming less relevant as the majority of FY24 revenue was booked and shipped intra-year," the analyst wrote.



The company's full-year guidance of revenue, pro forma operating income and gross margins of $1.65 billion to $1.85 billion, $135 million to 165 million and around 29% came above expectations.



Bloom Energy's EBITDA margin profile "is below average for product companies within our coverage," he further stated.



BE Price Action: Shares of Bloom Energy had risen by 0.56% to $23.17 at the time of publication on Friday.



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Bloom Energy (BE) reported Q4 results ahead of expectations. Analyst Mark Strouse raised price target to $18.

Bloom Energy Posts Q4 Beat: Margin Profile Remains Below Industry Average, Analyst Says - Bloom Energy (NYSE:BE)

Priya Nigam

JPMorgan

Mark Strouse

Bloom Energy Posts Q4 Beat: Margin Profile Remains Below Industry Average, Analyst Says

Bloom Energy Corp

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