JP Morgan Cuts Bloom Energy (BE) Price Target to $292

JP Morgan maintained its Overweight rating on Bloom Energy Corporation NYSE:BE on October 23, 2026, while lowering its price target from $314.00 to $292.00. The research note arrived on a busy day for Wall Street coverage updates on the industrial equipment provider, offering a fresh look at where the company stands.

BE Bloom Energy Corporation

$217.77 ▲ +120.66% year to date

1M 3M YTD

Daily close · Oct 22, 2026

JP Morgan's Call on Bloom Energy

In its October 23 note, JP Morgan kept a positive stance with an Overweight rating even as it trimmed the target price from $314.00 down to $292.00. Even with the reduction, the revised target sits comfortably above where shares have recently changed hands.

Other Institutional Activity in Bloom Energy

Large financial institutions have actively adjusted their positions in Bloom Energy. Ameriprise Financial, Inc. reduced its holdings by 4,753,946 shares, ending with 18,134,575 shares worth about $3,480,253,395.00. Situational Awareness LP trimmed its stake by 212,725 shares, leaving it with 6,272,808 shares valued around $1,203,830,877.00. Meanwhile, Value Aligned Research Advisors, LLC grew its holdings by 1,000,399 shares, finishing with 5,585,179 shares worth approximately $1,071,866,210.00.

Bloom Energy Corporation Stock Down 19.0%

Bloom Energy closed at $191.91 on October 23, 2026. The stock recently traded at $191.20 as of October 23, 2026, which is down about 0.4% from that closing price. The recent price sits well below the 50-day moving average of $249.16 and under the 200-day moving average of $218.86.

Recent Earnings

Bloom Energy posted trailing twelve month revenue of $3,113,149,952.00 with basic earnings per share of $0.69. The firm posted a year-over-year revenue growth rate of 165.5% alongside a net profit margin of 7.9% and a return on equity of 22.2%.

Insider Buying and Selling at Bloom Energy Corporation

Four company insiders completed share sales in August 2026. Officer Shawn Marie Soderberg sold 2,895 shares on August 14, 2026, at an average price of $233.60 for a total value of $676,272.00. Chief Operating Officer Satish Prabhu Chitoori sold 2,053 shares on August 14, 2026, at $241.64 per share for a total of $496,087.00. Officer Aman Joshi sold 4,677 shares on August 14, 2026, at $241.75 each, totaling $1,130,665.00. Finally, Director Jeffrey R Immelt sold 30,000 shares on August 17, 2026, at an average price of $238.91 for a total value of $7,167,300.00.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock on October 23, 2026. RBC Capital reiterated its Outperform rating and a $335.00 price target. Keybanc maintained a Sector Weight rating without providing a price target. Morgan Stanley maintained an Overweight rating, lifting its target from $310.00 to $335.00. Bernstein maintained a Market Perform rating while raising its target from $282.00 to $306.00. Across the broader analyst community, the stock holds a consensus buy rating with 26 analyst opinions and a mean price target of $285.08.

About Bloom Energy

Bloom Energy designs and builds solid oxide fuel cell systems that generate on-site electricity for commercial and industrial users. Its core technology converts common fuels like natural gas, biogas, and hydrogen directly into electricity through an electrochemical process that avoids traditional combustion. The company also manufactures electrolyzers to produce clean hydrogen, positioning itself as a key player in modern energy infrastructure.

Bottom Line

JP Morgan's decision to lower its price target while keeping an Overweight rating shows continued support for the company's long-term path despite recent downward pressure on the share price. Investors will want to watch upcoming earnings reports and future analyst updates to see if the stock narrows the gap toward the new $292.00 target.