Bloom Energy (BE 8.56%) has launched into the stratosphere.
The clean energy stock started 2026 trading at about $98 per share. Since then, it has nearly tripled to about $289 per share.
NYSE: BE
Key Data Points
Bloom's momentum was driven by a flurry of exciting news. The company inked and expanded strategic deals with Nebius and Oracle, while also reporting explosive revenue growth and raising its outlook for the remainder of 2026.
Image source: Bloom Energy.
The second half of 2026 has already gotten off to a good start. On June 30, the company expanded its $5 billion deal with Brookfield Asset Management to $25 billion. This, of course, is a financing for AI infrastructure projects, not direct revenue to Bloom. But since that capital will only go to projects that use Bloom's energy servers, it should, in the end, contribute significantly to Bloom's top-line growth.
Still, Bloom has a lot to prove in the second half of 2026 and beyond. Foremost, it needs to show Wall Street that it can translate these exciting partnerships and deals into sustained revenue growth that improves profitability and cash flow.
After its stellar run over the last year, Bloom is trading at a premium, with a forward price-to-earnings (P/E) figure of about 147. Bloom reports second-quarter earnings at the end of July, and another blowout quarter could push this stock to new heights. At the same time, investors should maintain caution, as the stock's pricy valuation could invite downward pressure if the price runs ahead of fundamentals.
