Shares of Bloom Energy (BE 10.99%) tumbled 22.5% in February, according to data provided by S&P Global Market Intelligence. The energy technology company's fourth-quarter results disappointed investors, as did its 2024 revenue guidance. On top of that, its well-regarded CFO is leaving the company.

A rough end to the year

Bloom Energy's revenue plunged 22.8% during the fourth quarter to $356.9 million. Its adjusted earnings also slumped, falling from $59 million, or $0.27 per share, in the year-ago period to $27.4 million, or $0.07 per share. Both numbers missed analysts' expectations of $470.8 million in revenue and adjusted earnings of $0.09 per share.

The company also issued disappointing guidance. It expects revenue to be between $1.4 billion and $1.6 billion this year. That's well below the analysts' consensus estimate of nearly $1.8 billion. A driving factor is the company's decision to pause deployments to Korea as it adapts to a new government policy.

Making matters worse, well-respected CFO Greg Cameron announced plans to depart the company after four years. Bloom Energy is looking to identify candidates to replace him.

Analysts who follow the company didn't like the report or news of the CFO's departure. J.P. Morgan analyst Mark Strouse downgraded the stock from overweight to neutral while reducing his price target from $19 to $14.

"Despite prospects for long-term growth, we are sidelined until there is better visibility into a more pronounced ramp in revenue and operating income," wrote the analyst in a research note. The analyst also didn't like the news that Cameron was leaving, "given his focus on margin improvement since joining four years ago."

Oppenheimer analyst Colin Rusch also said he's staying on the sidelines until there's more clarity on customer diversification and Korea. KeyBanc analyst Sangita Jain also didn't like the report, which led to a downgrade. "This, in combination with the departure of a well-respected CFO with no clear successor in place, drives our decision to step away until we get more clarity," wrote the analyst.

Is Bloom Energy a buy after last month's slump?

Bloom Energy has a lot of promise. The company's energy servers could help power data centers and industrial buildings with clean energy. That helped fuel strong growth for the company last year as revenue surged 11% to a record $1.3 billion, and it started posting positive adjusted income.

While demand for its products remains robust, it's not as strong as analysts had expected due in part to issues with the Korean market. That near-term headwind could continue weighing on the stock. Likewise, uncertainty surrounding the CFO role could also hold back shares.

However, Bloom Energy's long-term opportunity remains compelling. For example, it recently teamed up with energy giant Shell to study solutions using its technology to potentially produce hydrogen for Shell's assets. Given its immense promise, last month's sell-off is a potentially attractive entry point for investors who believe Bloom can continue to develop and commercialize innovative energy technology products that can drive accelerated revenue and earnings growth.