Plus, the average price target for PLUG stock is $25.50, which indicates strong upside potential. Out of 21 analysts, 16 gave Plug Power a “buy” rating and no “sell” ratings were observed. Indeed, Plug Power’s well-heeled investors include famous names like Vanguard and BlackRock (NYSE: BLK).įurthermore, Wall Street’s experts generally favor Plug Power. Still, the current Plug Power share price of around $10 seems too cheap, so there’s an opportunity here.Įven though many financial traders gave up on Plug Power, Samuel O’Brient reported that some big-money investors are staying in the trade.
I’ll be the first to admit that $60 was too high, too soon. PLUG stock peaked at around $30 last year and, prior to that, traded above $60 per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips PLUG Stock Investors Will Have to Forgive Poor Financials Instead, consider how much shareholder value the company could provide through 2030. Therefore, don’t over-focus on Plug Power’s progress in 2023. Really, Plug Power’s loyal shareholders are willing to accept imperfections today, in anticipation of potential returns down the road. As we’ll discover, the company doesn’t check all of the boxes for folks who insist on picture-perfect financials. To be honest, it requires faith and vision to confidently invest in Plug Power. Are investors missing out on a great opportunity? I’d say so, as Plug Power’s gigantic green hydrogen production facility could prove to be a major revenue generator. for green hydrogen producers within the Build Back Better bill could pull forward years of demand, with PLUG uniquely placed as an integrated renewable hydrogen provider.Interestingly, Plug Power (NASDAQ: PLUG) is generally favored by Wall Street’s experts even while PLUG stock can’t seem to get off the ground. As a result, with the new addition in place, West raised 2022’s revenue estimate to $935 million, slightly above the high-end of guidance.įurther out, the analyst raised 2030’s forecast from $9 billion to $11 billion and explained his reasoning behind the new target: “We believe the higher likelihood of production tax credits in the U.S.
PLUG also announced another acquisition the company is bringing turnkey hydrogen solutions provider Frames Group under the fold. As more plants are commissioned, beginning in 1Q22 through 4Q22, West believes margins should start to improve with “incremental accretion.” The company also expects green H2 fuel production costs to decline by 50% by 2025, as over the next 2 to 3 years, the company’s liquid green hydrogen capacity should reach hundreds of tons per day in the U.S and will be “significantly margin accretive” - to the tune of +30% gross margins. West is now confident PLUG can become “meaningfully profitable” by 2025 and by 2030 expects revenues to increase above expectations. However, PLUG’s outlook appears positive as the company raised 2022’s revenue guidance from $838 million to between $900 Million to $925 Million. There was also a miss on the bottom-line, as EPS of -$0.19 fell short of expectations by $0.10. Q3’s revenue came in at $143.9 million, a 34% increase on the same period a year ago, although the figure missed the Street’s forecast by $0.92 million. “With +$3 billion of net cash on hand, a vertically-integrated product suite, and a quickly growing revenue base, we find few other equities offering similar leverage to the green H2 thematic,” the analyst opined. Plug Power ( PLUG) might have missed the top-and bottom-line estimates in its latest quarterly report but following the Q3’s print, Evercore analyst James West is even more upbeat than before.
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