PLUG

Plug Power Inc

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Advanced Chart

1.790

+0.14(8.485%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

1.830

Open

1.680

VWAP

1.75

Vol

102.72M

Mkt Cap

2.05B

Low

1.670

Amount

180.24M

EV/EBITDA(TTM)

Total Shares

742.56M

2.51B

EV/OCF(TTM)

P/S(TTM)

2.40

Plug Power Inc. is engaged in offering end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals. The Company develops commercially viable hydrogen and fuel cell product solutions. It provides electrolyzers that allow customers, such as refineries, producers of chemicals, steel, fertilizer and commercial refueling stations, to generate hydrogen on-site. It focuses on industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites and environmental benefits; stationary power systems that supports critical operations, such as data centers, microgrids and generation facilities, in either a backup power or continuous power role and replace batteries, diesel generators or the grid for telecommunication logistics, transportation, and utility customers; and production of hydrogen.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2025Q3

FY2025Q2

234.56M

+22.51%

201.07M

+15.74%

158.71M

+10.72%

Estimates Revision

The market is revising Downward the revenue expectations for Plug Power Inc. (PLUG) for FY2025, with the revenue forecasts being adjusted by -1.7% over the past three months. During the same period, the stock price has changed by 126.98%.

Revenue Estimates for FY2025

Revise Downward

-1.7%

In Past 3 Month

Stock Price

Go Up

+126.98%

In Past 3 Month

20 Analyst Rating

-27.93% Downside

Wall Street analysts forecast PLUG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PLUG is 1.29 USD with a low forecast of 0.50 USD and a high forecast of 3.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

4 Buy

11 Hold

5 Sell

Hold

-27.93% Downside

Current: 1.790

Low

0.50

Averages

1.29

High

3.50

-27.93% Downside

Current: 1.790

Low

0.50

Averages

1.29

High

3.50

JPMorgan

Neutral

maintain

2025-07-08

Reason

JPMorgan

Price Target

2025-07-08

maintain

Neutral

Reason

JPMorgan keeps a Neutral rating on Plug Power after the company held a conference call to discuss the implications of the One Big Beautiful Bill for its hydrogen roadmap. The 45V clean hydrogen production tax credit is now available to project developers beginning construction on hydrogen facilities by December 31, 2027, an extension of two years versus the prior draft's deadline, the analyst tells investors in a research note. JPMorgan believes the policy clarity should remove an overhang for the broader hydrogen complex. It views the bill as a positive for Plug Power, but adds it remains to be seen how much demand actually unlocks and how successful the company will be in improving margins and reducing cash burn in the meantime.

Roth Capital

Craig Irwin

Buy

maintain

$3.50

2025-07-08

Reason

Roth Capital

Craig Irwin

Price Target

$3.50

2025-07-08

maintain

Buy

Reason

Roth Capital analyst Craig Irwin keeps a Buy rating and $3.50 price target on Plug Power after the company hosted an update call to discuss policy details from the Big Beautiful Bill Act, specifically to underline how Section 48E details were a "positive surprise". The updated 48E terms allow a full 30% ITC - investment tax credit - for qualified fuel cell property that starts construction between 2026 and 2032, and does this without any zero-emission requirements or restrictions on foreign components, the analyst tells investors in a research note.

Jefferies

Dushyant Ailani

Hold

downgrade

2025-05-20

Reason

Jefferies

Dushyant Ailani

Price Target

2025-05-20

downgrade

Hold

Reason

Piper Sandler

Underweight

downgrade

2025-05-14

Reason

Piper Sandler

Price Target

2025-05-14

downgrade

Underweight

Reason

Piper Sandler lowered the firm's price target on Plug Power to 80c from $1.10 and keeps an Underweight rating on the shares. The firm highlights a relative improvement from Plug as revenues were in line with expectations for the first time since Q2 2023; margins were also in line. Cash burn remains high at $141M but did decline 47% year-over-year, Piper adds. Despite less severe cash burn than expected, the firm remains bearish as it struggles with the path to corporate profitability.

Wells Fargo

Equal Weight

downgrade

$2 -> $1

2025-05-14

Reason

Wells Fargo

Price Target

$2 -> $1

2025-05-14

downgrade

Equal Weight

Reason

Wells Fargo lowered the firm's price target on Plug Power to $1 from $2 and keeps an Equal Weight rating on the shares. The firm cites higher-than-forecasted share dilution from Plug Power's recent equity offering. Initial draft proposal from Ways & Means eliminates 45V tax credit starting in 2026, Wells notes.

Canaccord

Hold

downgrade

2025-05-13

Reason

Canaccord

Price Target

2025-05-13

downgrade

Hold

Reason

Canaccord lowered the firm's price target on Plug Power to $1 from $1.25 and keeps a Hold rating on the shares. The firm said Management continues to take steps to reshape the company and focus on sustainability and viability and they are encouraged by management's intensified focus on profitability and future cash generation.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Plug Power Inc (PLUG.O) is -3.54, compared to its 5-year average forward P/E of -33.25. For a more detailed relative valuation and DCF analysis to assess Plug Power Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

N/A

5Y Average PE

-33.25

Current PE

-3.54

Overvalued PE

5.74

Undervalued PE

-72.24

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

235.23

Current EV/EBITDA

-7.56

Overvalued EV/EBITDA

1313.77

Undervalued EV/EBITDA

-843.32

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

N/A

5Y Average PS

12.72

Current PS

2.39

Overvalued PS

26.45

Undervalued PS

-1.01