Key Takeaways
- Bloom Energy fell 8% as AI stocks sold off after Democrats swept Tuesday’s elections, and Lumentum and MARA Holdings fell with it.
- Data center contractors fell even more, a sign investors fear fewer data centers will get built, which would hurt Bloom too.
- Analysts expect Bloom’s normalized EPS to rise from $3.27 in 2026 to $8.24 in 2028.
- Nothing in Bloom’s latest numbers shows a slowdown, so the drop looks like an overreaction until its fourth-quarter report in early 2027.
Bloom Energy (BE) fell 8% today, giving back part of Tuesday’s jump on a Barclays upgrade as AI stocks faded after Democrats swept the elections.
The selling went well past Bloom. Lumentum (LITE) fell 11% with no news of its own. MARA Holdings (MARA) dropped 4% along with other bitcoin miners, after Keefe Bruyette downgraded two of its peers because Democrat Gina Hinojosa beat Greg Abbott in Texas. The contractors Quanta Services (PWR) fell 13% and Comfort Systems USA (FIX) fell 17%. Reports tied the slide to the risk of tighter rules on AI infrastructure.
Off the grid, still tied to data centers
Barron’s called Bloom “a surprise big winner” from the elections, since its fuel cells bypass the grid. But the contractors’ drop suggests investors fear fewer data centers, and Bloom needs those campuses as much as Quanta and Comfort Systems do.
So far, the contractors’ numbers show no slowdown. Quanta’s backlog hit a record $63.7 billion at Sept. 30, and CEO Duke Austin said demand is “broadening across utility, power generation, industrial and technology customers.” Comfort Systems’ backlog nearly doubled in a year, from $9.38 billion to $17.81 billion. Both reported before the vote, though, so their fourth-quarter reports will show whether customers start pausing.
TIKR tracks 29 analysts on Bloom Energy. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Bloom Energy, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Bloom Energy’s Analyst Ratings
Wall Street is still raising its numbers
Analysts expect Bloom’s normalized EPS to climb from $0.76 in 2025 to $8.24 in 2028:
Bloom Energy (BE): normalized EPS, actual and consensus estimates, $ per share, fiscal 2023-2028 (TIKR)
An election doesn’t cancel anyone’s order, so I don’t expect today’s news to push those estimates down.
Customers are still putting down deposits, too: $661.4 million at Sept. 30, up from $78.2 million at the end of 2025.
At roughly 40x forward earnings, Bloom trades well below the 76x it averaged over the past three years. The risk is cash: Bloom’s free cash flow was negative $180.6 million in the third quarter.
A reflex, for now
Frankly, I think it’s an overreaction: Bloom fell with the group on no news of its own, while its estimates and deposits keep rising.
Of course, if a Democratic Congress tightens the rules on data centers, every campus slows down, Bloom’s included. Its fourth-quarter report in early 2027 will show whether orders held up.
So what is Bloom Energy stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what Bloom Energy could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
Source: www.tikr.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
