Bloom Energy Has Fallen 28% From Its Peak and May Only Deliver a 15% Return by September 2027

On Sept. 4, Bloom Energy (NYSE: BE) closed at $252.87 per share, a 28% fall from its 52-week high of $351.28. That isn't necessarily due to how the company has performed, but rather to the high expectations it has established.

Bloom appears to be in an "Nvidia moment," where it's performed so well that it's becoming increasingly difficult to impress the markets. And based on analysts' forecasts for Bloom over the next 12 months, this price pullback from the 52-week high doesn't suggest the stock is trading at a bargain compared to where it could be trading by September 2027.

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The Bloom Energy stock price outlook

Analysts have a mixed outlook on Bloom Energy. According to CNN, of the 32 who cover the stock, 53% rate it a buy, 41% a hold, and 6% a sell. That group also has a median price target of $292.50 for Bloom over the next 12 months, representing a 15.6% gain from its Sept. 4 closing price of $252.87.

The highest price target from that group, $380, indicates noticeable upside, representing a 50.2% gain. The lowest price target, $105, also shows notable downside potential, representing a 58.4% loss. While price targets aren't a guarantee of where the stock price could trade, they are useful for establishing a risk-to-reward framework to help evaluate the stock as a potential investment.

For Bloom, this doesn't appear to be the most favorable setup. The first thing to note is that Bloom's stock price has already skyrocketed by 373% over the past 12 months. So at the median price target of $292.50, a gain of just 15.6%, that doesn't quite sound enticing compared to how the stock has previously performed.

And while the highest price target of $380 is more favorable, implying 50% upside, there's still the risk of a stock price decline, as one analyst expects shares to drop about 58% over the next year.

What to consider next

I still think Bloom Energy could be a worthwhile long-term investment. That said, expectations need to be reasonable going forward. The stock price has already climbed by over 1,100% over the past five years, so expecting another run like that over the next five years is likely to only lead to disappointment.

The reason, however, that I think it's still a worthwhile investment is that power demands from artificial intelligence (AI) will only continue to grow. According to Grand View Research, the global AI market size was valued at $539.5 billion in 2027 and is expected to reach $3.4 trillion by 2033. With Bloom offering an on-site power solution that can be deployed in as little as three months, it can continue to cash in on the growing power needs from AI.

In addition, while revenue growth remains explosive, reaching $1 billion in quarterly sales for the first time in the second quarter, the story around Bloom is also becoming one centered on profitability. For instance, in Q2 Bloom reported $196.2 million in net income attributable to common shareholders. In the year-ago period, it had reported a net loss of $42.6 million. Also, thus far in 2026, Bloom has reported back-to-back quarters of profitability.

When you put that together, you have a company that still has plenty of demand to keep accelerating revenue growth, while also accelerating its ability to turn that revenue into profits.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy and Nvidia. The Motley Fool has a disclosure policy.