Oppenheimer analyst Colin Rusch maintained a Hold rating on Bloom Energy Corp (BE) yesterday. The company’s shares closed yesterday at $23.01.
Rusch noted:
“BE posted solid revenue, better than expected non-GAAP GM, and in-line EPS, but 4Q18 guidance was disappointing as the midrange of revenue was ~10% below Street expectations. We believe GM and EBITDA performance will be a critical focus as investors look for leverage on BE delivering 20%+ acceptance growth. Given management commentary around difficulty forecasting acceptances, we are lowering our revenue estimates to account for higher than previously modeled risk to project timelines. Additionally, we believe investors were prepared for elevated SBC through 2019, but believe the expense is running higher than expected. We continue to be bullish on adoption of decentralized power assets and microgrids and BE’s product positioning, but remain on the sidelines as business cycles become better understood.”
According to TipRanks.com, Rusch is a 4-star analyst with an average return of 8.9% and a 48.5% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.
Currently, the analyst consensus on Bloom Energy Corp is a Moderate Buy with an average price target of $27.40.
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Based on Bloom Energy Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $45.68 million. In comparison, last year the company had a GAAP net loss of $71.83 million.
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Bloom Energy Corp. manufactures and installs on-site distributed power generators. Its products include energy server achitecture, solide oxide fuel cells, distributed generation, Es5 data sheet and UPM-570 data sheet.
