Is Bloom Energy a Buy, Hold, or Sell After Its 1,920% Run?

Bloom Energy (NYSE: BE), which went public in 2018, didn't impress too many investors during its first six years on the market. Its solid oxide fuel cells (SOFCs) were considered a niche green energy technology, its revenue growth was lumpy, and it was consistently unprofitable.

But over the past two years, Bloom's stock soared about 1,920%. Let's review the catalysts that sparked that rally, and if it's smarter to buy, hold, or sell its high-flying stock.

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What does Bloom Energy do?

Bloom's SOFCs can convert natural gas, biogas, propane, or pure hydrogen into electricity and heat with an oxygen-driven electrochemical reaction that doesn't require any combustion. They can also be deployed rapidly, often in less than two months, and bypass traditional grids.

That cleaner, faster approach to generating power made Bloom's SOFCs appealing to large tech companies and hyperscalers, which needed to quickly expand their infrastructure to handle the surging demand for cloud and artificial intelligence (AI) applications.

Companies like Oracle, CoreWeave, Nebius, and Equinix are using Bloom's fuel cells to power their data centers. Brookfield Asset Management (NYSE: BAM), one of the world's largest asset managers, is funding the construction and deployment of its fuel cell systems.

Why did Bloom Energy become a hypergrowth stock?

All of those catalysts lit a fire under Bloom's business, and its revenue rose 11% in 2024 and 37% to $2.0 billion in 2025. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 96% in 2024 and 69% in 2025.

From 2025 to 2028, analysts expect its revenue to grow at a 70% CAGR to $9.9 billion, while its adjusted EBITDA increases at a 120% CAGR to $2.9 billion. That growth should be fueled by the data center market's breakneck expansion, as well as the transition of its $25 billion funding deal with Brookfield from a headline agreement into its active execution phase.

Is it the right time to buy, hold, or sell Bloom's stock?

With an enterprise value of $69.6 billion, Bloom isn't cheap at 17 times this year's sales and 77 times its adjusted EBITDA. However, its dominance of the niche SOFC market, exposure to the booming AI market, and explosive growth rates could justify that higher valuation.

Bloom's stock might remain volatile in this choppy market, but it would be smarter to buy or hold it at these prices than to hastily sell it. The AI market's surging demand for clean, rapidly deployed energy solutions could easily drive its stock price much higher.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, Equinix, and Oracle. The Motley Fool has a disclosure policy.