As Bloom Energy stock goes parabolic due to growing demand for artificial intelligence in data centers, Wall Street believes it could become the next big meme stock for retail investors. Shares of Bloom Energy soared 22% on Wednesday after the fuel cell power generation company posted strong first-quarter results. First-quarter profits, sales, and adjusted EBITDA all exceeded analyst expectations. In addition, Bloom Energy raised its operating profit forecast for the current quarter as well as its full-year profit outlook. Wednesday’s rise means the stock is up more than 100% for April. Shares soared earlier this month after Oracle signed a deal with Bloom Energy to expand capacity at its AI data center. The deal comes just days after the tech veteran received a purchase warrant for $400 million worth of Bloom Energy stock. Oracle now plans to procure up to 2.8 gigawatts of Bloom Energy’s systems to sustain the rapidly increasing energy demands of its data centers. BE 1M Mountain BE 1M Chart Year-to-date, the stock has surged more than 200%, and reversed its long-term downward trend in 2025, soaring more than 291%. From the end of 2020 to the beginning of 2024, stocks lost nearly half of their value. Following the latest financial results, there is a generally bullish view on the street regarding the company’s future prospects. Bloom Energy could become a new hot stock for Mizuho traders. “Bloom Energy is not a quasi-stock, but it is a winning name on Key Eye, is part of the Power/Energy/Electrification theme, and is well-owned. BE is becoming a ‘meme’ stock. There is definitely a lot of retail in this stock. The good news is this is a 100% real company. It has been around for a long time,” the traders wrote in an email. “This is by no means a quantum technology or a small-scale nuclear technology, and it will take five to 10 years to see it commercially available and at scale,” agreed Barclays analyst Christine Cho and others. “Please make more space for Bloom,” she wrote in a note. “Bloom is moving from an early green shoot to a more durable growth cycle, supported by hyperscaler demand and rapid adoption economics, resulting in a re-rating of volume assumptions, while also appearing to strengthen BE pricing power in the current market backdrop.” “Monster wins and is raising prices as BE sees demand for its fuel cells accelerating. We have raised our estimates as BE continues its better-than-expected upside and has introduced a path to 5GW of capacity,” she added. That said, Cho maintained an equal weight rating on the stock, citing valuation concerns. In fact, according to FactSet, the company’s stock price forecast is 102 times. However, BTIG Research analyst Gregory Lewis sees the stock rising 30% to his $295 price target. “Bottom line: As data center ramp-up ramps up, BE is emerging as a key power source for hyperscalers and one of the few with spare manufacturing capacity,” analysts said in a client note on Tuesday. “We reiterate our buy rating.”
