Plug Power Stock Forecast

Stock Price Forecast

According to 20 analysts polled by S&P Global, Plug Power stock has a consensus rating of "Hold" and an average price target of $3.62. The average 1-year stock price forecast is 27.02% higher than the current stock price, while the lowest is $0.75 (-73.68%) and the highest is $7.00 (+145.61%).

Price Target: $3.62 (+27.02%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$0.75	$3.62	$3.88	$7.00
Change	-73.68%	+27.02%	+36.14%	+145.61%

* Price targets were last updated on May 20, 2026.

Analyst Ratings

The average analyst rating for Plug Power stock is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	5	5	5	5	5	5
Buy	0	0	0	0	0	0
Hold	13	13	12	12	12	12
Sell	0	0	0	0	0	0
Strong Sell	3	3	3	3	3	3
Total	21	21	20	20	20	20

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Eric Stine Craig-Hallum	Craig-Hallum	Buy Maintains n/a	Buy	Maintains	n/a	n/a	Jun 3, 2026
Amit Dayal H.C. Wainwright	H.C. Wainwright	Buy Maintains $7	Buy	Maintains	$7	+145.61%	May 20, 2026
Michael Blum Wells Fargo	Wells Fargo	Hold Reiterates $2 → $2.5	Hold	Reiterates	$2 → $2.5	-12.28%	May 19, 2026
Charles Minervino Susquehanna	Susquehanna	Hold Maintains $2.75 → $3.75	Hold	Maintains	$2.75 → $3.75	+31.58%	May 13, 2026
Ameet Thakkar BMO Capital	BMO Capital	Sell Maintains $1 → $1.2	Sell	Maintains	$1 → $1.2	-57.89%	May 12, 2026

More Analyst Ratings

Financial Forecast

Revenue This Year

813.38M

from 709.92M

14.57%

from 709.92M

Revenue Next Year

964.56M

from 813.38M

18.59%

from 813.38M

EPS This Year

-0.29

from -0.85

EPS Next Year

-0.16

from -0.29

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	502.34M	701.44M	891.34M	628.81M	709.92M	813.38M
Revenue Growth	-	39.63%	27.07%	-29.45%	12.90%	14.57%
Gross Profit	-99.32M	-167.56M	-421.45M	-576.35M	-266.65M	19.56M
Gross Margin	-19.77%	-23.89%	-47.28%	-91.66%	-37.56%	2.41%
Operating Income	-415.92M	-657.86M	-1.06B	-1.12B	-719.76M	-329.68M
Net Income	-459.97M	-724.01M	-1.37B	-2.10B	-1.63B	-491.75M
EPS	-	-	-	-	-0.85	-0.29
Free Cash Flow	-486.30M	-1.05B	-1.36B	-799.99M	-351.78M	-366.36M
No. Analysts	-	-	-	-	-	19

EPS and Forward PE are based on non-GAAP adjusted numbers.

Revenue Forecast

Revenue	2026	2027	2028
High	832.2M
Avg	813.4M
Low	803.0M

Revenue Growth

Revenue Growth	2026	2027	2028
High	17.2%
Avg	14.6%
Low	13.1%

EPS Forecast

EPS	2026	2027	2028
High	-
Avg	-0.29
Low	-

EPS Growth

EPS Growth	2026	2027	2028
High	-
Avg	-
Low	-