Summary:
- Plug Power's Q3 revenue fell by 12.6%, not meeting analyst expectations.
- Stock price plummeted by 41.1% following missed revenue guidance.
- Analysts predict significant potential upside from current stock levels.
Plug Power (PLUG, Financial) has recently announced its third-quarter financial results, showcasing a revenue of $173.7 million, a notable decline of 12.6% from the previous year. This disappointing outcome not only fell short of analysts' expectations by 18.7% but also led to a stark stock price drop of 41.1%, bringing the price down to $1.17.
Wall Street Analysts Forecast
In light of these financial results, 22 analysts have updated their one-year price targets for Plug Power Inc (PLUG, Financial). The average target stands at $2.57, with estimates ranging from a high of $7.00 to a low of $0.75. This average price target suggests a potential upside of 130.74% from the current price level of $1.12. Investors seeking more detailed analysis can explore the estimates on the Plug Power Inc (PLUG) Forecast page.
The consensus recommendation from 26 brokerage firms classifies Plug Power Inc's (PLUG, Financial) stock with an average brokerage recommendation of 3.0, indicating a "Hold" status. The recommendation is part of a scale ranging from 1 (Strong Buy) to 5 (Sell), where a 3 reflects a neutral stance.
Further insight from GuruFocus reveals that the estimated GF Value for Plug Power Inc (PLUG, Financial) in one year is projected at $5.47. This estimate represents a substantial upside potential of 390.58% from the present stock price of $1.115. The GF Value is GuruFocus' approximation of the stock's fair trading value, taking into account historical trading multiples, past business growth, and future performance projections. For a deeper dive into these metrics, visit the Plug Power Inc (PLUG) Summary page.
