Stem, Inc. provides artificial intelligence (AI)-driven clean energy storage services. It delivers and operates smart battery storage solutions that maximize renewable energy generation and help build a resilient grid. The company's Athena, a AI-powered analytics platform software that uses artificial intelligence and machine learning to automatically switch between battery power, onsite generation, and grid power. Athena stabilizes the grid, reduces carbon emissions, and solves renewable intermittency across the network of distributed energy storage systems. The company serves customers, including Fortune 500 corporate energy users, project developers and installers, and utilities and independent power producers. Stem, Inc. was founded in 2009 and is headquartered in San Francisco, California.
IPO Year: 2020
Exchange: NYSE
Website: stem.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/9/2024 | $2.00 → $0.50 | Positive → Neutral | Susquehanna |
| 8/7/2024 | $4.00 → $1.00 | Buy → Hold | TD Cowen |
| 3/22/2024 | $5.50 → $2.50 | Buy → Neutral | Goldman |
| 2/29/2024 | $7.00 → $5.00 | Outperform | TD Cowen |
| 11/3/2023 | Buy → Neutral | Guggenheim | |
| 10/20/2023 | $5.00 | Neutral | Exane BNP Paribas |
| 9/6/2023 | $12.00 → $8.00 | Overweight → Equal-Weight | Morgan Stanley |
| 8/30/2023 | $6.00 | Equal Weight | Barclays |
| 6/23/2023 | $6.00 | Neutral | Piper Sandler |
| 6/6/2023 | $12.00 | Buy | Janney |
10-Q - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
10-Q - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
8-K - STEM, INC. (0001758766) (Filer)
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New Strategy Implementation in Progress Increased ARR by more than $3M in 3Q, Representing +7% QoQ Growth Revising Full Year 2024 Guidance for Several Key Metrics Third Quarter 2024 Financial and Operating Highlights Financial Highlights Revenue of $29.3 million, down from $133.7 million in 3Q23. Reflects $5.6 million and $37.4 million reductions in revenue, respectively, due to revised negotiated valuations of assets under certain hardware price guarantees entered into in 2022 and 2023. Lower revenue in the quarter also reflects reduced battery hardware sales, partially offset by growth in software and services revenue1 GAAP gross profit of $6.2 million, up from $(20.3) million in
Stem's C-Suite further fortified with proven software expertise to accelerate delivery of AI-enabled software innovation Stem Inc. (NYSE:STEM), a global leader in AI-enabled clean energy software and services, today announced Albert Hofeldt, PhD as Stem's Chief Technology Officer (CTO), reporting to interim Chief Executive Officer (CEO), David Buzby, effective immediately. In his prior role as the Company's Executive Vice President (EVP) of Technology, Dr. Hofeldt has successfully led the critical responsibilities of advancing the Company's technology innovation since 2022 and will further advance Stem's delivery of AI-enabled software solutions for the clean energy market as Stem's CTO. H
Refined go-to-market strategy and leadership structure emphasizing software and services; expanding energy consulting offerings Actions expected to drive more scalable, recurring, and profitable revenue streams with improved working capital and cash flow profile Company to provide additional details on strategy roadmap on third quarter 2024 earnings call Stem, Inc. (NYSE:STEM) (the "Company," Stem" or "we"), a global leader in artificial intelligence (AI)-enabled clean energy software and services, today announced the outcome of its previously announced review of the Company's strategy led by the Board's Software Strategy Working Group, which worked closely with the Stem management team.
Stem (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, will hold a conference call on Wednesday, October 30, 2024, to discuss its financial results for the quarter ended September 30, 2024. The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time. The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing 1-844-825-9789, or for international callers, 1-412-317-5180 and referencing Stem. A repla
John Carrington Steps Down as CEO, to Serve in Advisory Role for Remainder of 2024 Board Appoints David Buzby as Interim Chief Executive Officer Stem, Inc. (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced that John Carrington has stepped down as Chief Executive Officer (CEO) and as a member of the Board of Directors, effective immediately. To ensure a smooth transition, Mr. Carrington will serve in an advisory capacity through December 31, 2024. Stem's Board, with assistance of an executive search firm, is conducting a search, which will include internal and external candidates, to identify a permanent CEO to lead Stem
Furthers Growth of Marathon Capital's Equity Capital Markets Offering Marathon Capital, a leading financial advisory and investment banking firm to the clean economy, has announced that James Fitzgerald has joined the firm as Head of Institutional Sales. Based in New York, Mr. Fitzgerald will be responsible for leading the continued rollout of Marathon Capital's Equity Research and Equity Capital Markets ("ECM") products. Mr. Fitzgerald was most recently Executive Director, Institutional Equity Sales at Tudor, Pickering, Holt & Co (the energy business of Perella Weinberg Partners), where he provided coverage and long-term relationship management of hedge fund, long only, family office, an
Stem ("Stem" or the "Company") (NYSE:STEM), today announced that, on August 28, 2024, it had received a written notice from the New York Stock Exchange (the "NYSE") that the average closing price of its shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average closing price required to maintain continued listing on the NYSE. Stem will respond to the NYSE within 10 business days of receipt of the notice regarding its intent to cure the deficiency and return to compliance with the NYSE continued listing requirements. Under the NYSE's rules, the cure period extends for six months following receipt of the notice. The C
Doran Hole Named Chief Financial Officer and Executive Vice President David Buzby Named Executive Chair of the Board; Laura D'Andrea Tyson Named Lead Independent Director of the Board Company Initiates Strategic Review of Business Company Separately Reports Second Quarter 2024 Earnings; Conference Call at 5:00 p.m. ET Stem, Inc. (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced the following leadership changes to support the execution of the Company's strategic priorities. Doran Hole has been appointed Chief Financial Officer (CFO) and Executive Vice President (EVP), effective September 2, 2024. In addition to t
Revising Full Year 2024 Guidance Activated $3 million of ARR in 2Q, Representing +7% QoQ Growth Expect Full Year Positive Operating Cash Flow Bill Bush to step down as CFO effective September 2, 2024; Doran Hole to be named CFO as part of planned succession Second Quarter 2024 Financial and Operating Highlights Financial Highlights Revenue of $34.0 million, down from $93.0 million (-63%) in 2Q23 GAAP gross profit of $9.4 million, down from $11.9 million in 2Q23 GAAP gross margin of 28%, up from 13% in 2Q23 Non-GAAP gross profit of $13.5 million, down from $16.4 million in 2Q23 Non-GAAP gross margin of 40%, up from 18% in 2Q23 Net loss of $582.3 million versus net incom
Stem (NYSE:STEM), a global leader in AI-driven clean energy solutions and services, will hold a conference call on Tuesday, August 6, 2024, to discuss its financial results for the quarter ended June 30, 2024. The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time. The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (844) 825-9789, or for international callers, (412) 317-5180 and referencing Stem. A replay will be available shortly aft
Susquehanna downgraded Stem from Positive to Neutral and set a new price target of $0.50 from $2.00 previously
TD Cowen downgraded Stem from Buy to Hold and set a new price target of $1.00 from $4.00 previously
Goldman downgraded Stem from Buy to Neutral and set a new price target of $2.50 from $5.50 previously
TD Cowen reiterated coverage of Stem with a rating of Outperform and set a new price target of $5.00 from $7.00 previously
Guggenheim downgraded Stem from Buy to Neutral
Exane BNP Paribas initiated coverage of Stem with a rating of Neutral and set a new price target of $5.00
Morgan Stanley downgraded Stem from Overweight to Equal-Weight and set a new price target of $8.00 from $12.00 previously
Barclays initiated coverage of Stem with a rating of Equal Weight and set a new price target of $6.00
Piper Sandler initiated coverage of Stem with a rating of Neutral and set a new price target of $6.00
Janney initiated coverage of Stem with a rating of Buy and set a new price target of $12.00
4/A - STEM, INC. (0001758766) (Issuer)
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Shares of SAP SE (NYSE:SAP) rose sharply in today's pre-market trading after the company reported second-quarter financial results. SAP reported quarterly earnings of 82 cents per share which missed the analyst consensus estimate of $1.19 per share. Quarterly sales came in at $8.92 billion which missed the analyst consensus estimate of $8.96 billion, representing an 8.81% increase over sales from the same period last year, according to data from Benzinga Pro. SAP shares gained 5.9% to $212.34 in pre-market trading. Here are some other stocks moving in pre-market trading. Gainers Nature’s Miracle Holding Inc. (NASDAQ:NMHI) rose 183.4% to $0.9779 in pre-market trading after fal
In the latest quarter, 5 analysts provided ratings for Stem (NYSE:STEM), showcasing a mix of bullish and bearish perspectives. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 2 2 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 1 2 0 0 Analysts have recently evaluated Stem and provided 12-month price targets. The average target is $3.47, accompanied by a high estimate of $9.00 and a low estimate of $1.85. A
Susquehanna analyst Biju Perincheril maintains Stem (NYSE:STEM) with a Positive and lowers the price target from $2.5 to $2.
Project strengthens Stem's growing foothold in the public power sector; helps Sulphur Springs Valley Electric Co-op deliver reliable clean power to its membersStem (NYSE:STEM), a global leader in AI-driven clean energy solutions and services, and Arizona Electric Power Cooperative (AEPCO), a not-for-profit, member-owned electric generation and transmission (G&T) cooperative, in partnership with Prometheus Power (Prometheus), a national renewable energy developer, today announced the successful deployment of a co-located storage and solar project to help deliver clean, reliable power to its distribution co-ops and public power members.
UBS analyst Jon Windham maintains Stem (NYSE:STEM) with a Buy and lowers the price target from $5 to $2.5.
Goldman Sachs analyst Brian Lee maintains Stem (NYSE:STEM) with a Neutral and lowers the price target from $2.5 to $2.
Gainers Graphex Gr (AMEX:GRFX) stock rose 16.5% to $0.27 during Monday's pre-market session. The market value of their outstanding shares is at $11.9 million. Richtech Robotics (NASDAQ:RR) stock rose 12.17% to $1.48. The market value of their outstanding shares is at $98.0 million. Recruiter.Com Group (NASDAQ:RCRT) stock increased by 8.97% to $1.7. The market value of their outstanding shares is at $2.4 million. noco-noco (NASDAQ:NCNC) shares rose 8.78% to $0.22. The company's market cap stands at $30.2 million. Stem (NYSE:STEM) shares rose 8.08% to $1.47. The company's market cap stands at $237.4 million. As per the press release, Q1 earnings came out 2 days ago. Lichen China (NASDAQ:
Gainers AERWINS Technologies (NASDAQ:AWIN) stock moved upwards by 61.5% to $5.2 during Friday's regular session. The market value of their outstanding shares is at $3.7 million. IES Hldgs (NASDAQ:IESC) stock rose 23.81% to $169.45. The company's market cap stands at $3.4 billion. As per the press release, Q2 earnings came out today. Team (NYSE:TISI) stock moved upwards by 18.96% to $7.15. The company's market cap stands at $31.5 million. Paylocity Holding (NASDAQ:PCTY) shares increased by 16.32% to $174.03. The market value of their outstanding shares is at $9.8 billion. The company's, Q3 earnings came out yesterday. FTC Solar (NASDAQ:FTCI) shares increased by 13.66% to $0.53. The compa
Evercore ISI Group analyst James West maintains Stem (NYSE:STEM) with a Outperform and lowers the price target from $13 to $9.
BMO Capital analyst Ameet Thakkar maintains Stem (NYSE:STEM) with a Market Perform and lowers the price target from $2.5 to $1.85.
New Strategy Implementation in Progress Increased ARR by more than $3M in 3Q, Representing +7% QoQ Growth Revising Full Year 2024 Guidance for Several Key Metrics Third Quarter 2024 Financial and Operating Highlights Financial Highlights Revenue of $29.3 million, down from $133.7 million in 3Q23. Reflects $5.6 million and $37.4 million reductions in revenue, respectively, due to revised negotiated valuations of assets under certain hardware price guarantees entered into in 2022 and 2023. Lower revenue in the quarter also reflects reduced battery hardware sales, partially offset by growth in software and services revenue1 GAAP gross profit of $6.2 million, up from $(20.3) million in
Refined go-to-market strategy and leadership structure emphasizing software and services; expanding energy consulting offerings Actions expected to drive more scalable, recurring, and profitable revenue streams with improved working capital and cash flow profile Company to provide additional details on strategy roadmap on third quarter 2024 earnings call Stem, Inc. (NYSE:STEM) (the "Company," Stem" or "we"), a global leader in artificial intelligence (AI)-enabled clean energy software and services, today announced the outcome of its previously announced review of the Company's strategy led by the Board's Software Strategy Working Group, which worked closely with the Stem management team.
Stem (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, will hold a conference call on Wednesday, October 30, 2024, to discuss its financial results for the quarter ended September 30, 2024. The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time. The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing 1-844-825-9789, or for international callers, 1-412-317-5180 and referencing Stem. A repla
Doran Hole Named Chief Financial Officer and Executive Vice President David Buzby Named Executive Chair of the Board; Laura D'Andrea Tyson Named Lead Independent Director of the Board Company Initiates Strategic Review of Business Company Separately Reports Second Quarter 2024 Earnings; Conference Call at 5:00 p.m. ET Stem, Inc. (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced the following leadership changes to support the execution of the Company's strategic priorities. Doran Hole has been appointed Chief Financial Officer (CFO) and Executive Vice President (EVP), effective September 2, 2024. In addition to t
Revising Full Year 2024 Guidance Activated $3 million of ARR in 2Q, Representing +7% QoQ Growth Expect Full Year Positive Operating Cash Flow Bill Bush to step down as CFO effective September 2, 2024; Doran Hole to be named CFO as part of planned succession Second Quarter 2024 Financial and Operating Highlights Financial Highlights Revenue of $34.0 million, down from $93.0 million (-63%) in 2Q23 GAAP gross profit of $9.4 million, down from $11.9 million in 2Q23 GAAP gross margin of 28%, up from 13% in 2Q23 Non-GAAP gross profit of $13.5 million, down from $16.4 million in 2Q23 Non-GAAP gross margin of 40%, up from 18% in 2Q23 Net loss of $582.3 million versus net incom
Stem (NYSE:STEM), a global leader in AI-driven clean energy solutions and services, will hold a conference call on Tuesday, August 6, 2024, to discuss its financial results for the quarter ended June 30, 2024. The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time. The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (844) 825-9789, or for international callers, (412) 317-5180 and referencing Stem. A replay will be available shortly aft
Substantial increase of +42% CARR-to-ARR conversion since January 2024 Introducing Next Generation Asset Performance Management Software Suite Reaffirming Full Year 2024 Operating Cash Flow, Adjusted EBITDA, Gross Margin and Bookings Guidance First Quarter 2024 Financial and Operating Highlights Financial Highlights1 Revenue of $25.5 million, down from $67.4 million (-62%) in 1Q23. Reflects a $33 million reduction in revenue due to an updated valuation of certain contract guarantees for hardware revenue recorded in 2022 and 2023 GAAP gross profit of $(24.2) million, down from $1.0 million in 1Q23, primarily as a result of the net revenue reduction Non-GAAP gross margin of 2
Stem (NYSE:STEM), a leader in AI-driven clean energy solutions and services, will hold a conference call on Thursday, May 2, 2024, to discuss its results for the quarter ended March 31, 2024. The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time. The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (877) 407-3982, or for international callers (201) 493-6780, and referencing Stem. A replay will be available shortly after the call and ca
Achieved Key Milestone with Positive Adjusted EBITDA in Q4 and 2H23 Expect to Generate at Least $50 Million of Operating Cash Flow in 2024 Awarded PowerBidder™ Pro Contract by Mercuria Energy Trading Outlook Expect to achieve positive adjusted EBITDA of between $5 million and $20 million in 20241 Project at least $50 million in operating cash flow generation for the full year 2024 with no equity issuance Fourth Quarter and Full Year 2023 Financial and Operating Highlights Financial Highlights – Fourth Quarter 2023 Revenue of $167.4 million, up from $155.5 million (+8%) in Q4 2022 GAAP gross margin of 7%, down from 8% in Q4 2022 Non-GAAP gross margin of 13%, up from
Stem (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, will hold a conference call on Wednesday, February 28, 2024, to discuss its results for the fourth quarter and full year ended December 31, 2023, as well as outlook for 2024. The conference call is scheduled to begin at 5:00 p.m. Eastern Time. A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time. The conference call may be accessed via a live webcast on a listen-only basis at https://investors.stem.com/events-and-presentations. The call can also be accessed live over the telephone by dialing (855) 327-6837, or for international callers +1 (
Stem's C-Suite further fortified with proven software expertise to accelerate delivery of AI-enabled software innovation Stem Inc. (NYSE:STEM), a global leader in AI-enabled clean energy software and services, today announced Albert Hofeldt, PhD as Stem's Chief Technology Officer (CTO), reporting to interim Chief Executive Officer (CEO), David Buzby, effective immediately. In his prior role as the Company's Executive Vice President (EVP) of Technology, Dr. Hofeldt has successfully led the critical responsibilities of advancing the Company's technology innovation since 2022 and will further advance Stem's delivery of AI-enabled software solutions for the clean energy market as Stem's CTO. H
Stem, Inc. (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced the appointment of Gerard Cunningham to the Company's Board of Directors (the "Board"), effective April 19, 2024. Mr. Cunningham has extensive experience in the technology, software services ("SaaS"), and AI sectors and as an entrepreneur and founder of several data science-focused companies. Most recently, Mr. Cunningham was a partner at McKinsey & Company, where he co-founded and led its global clean technology practice, launched its AI for sustainability initiative, and was a leader in its digital business building practice. David Buzby, Chairman of the B
Stem, Inc. (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced the appointment of Ira M. Birns to the Company's Board of Directors (the "Board"), effective November 6, 2023. In connection with his appointment to the Board, Mr. Birns will also Chair the Audit Committee of the Board. Mr. Birns has extensive experience in management, finance and accounting from serving as a senior finance executive at large publicly-traded multinational corporations, as well as significant experience in mergers & acquisitions, capital markets, investor relations and in the energy sector, including renewable fuels and power. Mr. Birns is th
Stem (NYSE:STEM), a global leader in AI-driven clean energy solutions and services, today announced the appointment of Michael Carlson as its Chief Operating Officer. A global business executive, Michael brings 30 years of experience in finance, technology, and operations management across multiple industries and specifically 20 years of energy expertise in leveraging technology to drive value through business transformation and grid modernization. At Stem, he will be responsible for the company's day-to-day operations, program execution, deployment, and manufacturing, in addition to serving as a member of the senior executive leadership team. Prior to joining Stem, Michael served as Vice
Stem, Inc. ("Stem" or "the Company") (NYSE:STEM), a global leader in artificial intelligence (AI)-driven energy storage software and services, today announced the addition of Kim Homenock to the Stem leadership team as Chief People Officer. Homenock brings 20 years' experience in senior human resources (HR) leadership positions. At Stem, Homenock will oversee the global HR team with a focus on organizational development, global talent acquisition, training, and enhancing the employee experience for more than 500 Stem employees. Homenock's extensive leadership experience includes senior positions at Amazon and General Electric (GE). In roles at Amazon's Devices Software & Services and Trans
Stem, Inc. ("Stem" or the "Company") (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy storage services, today announced the appointment of Matt Tappin as Vice President of Corporate Development and his addition to the Stem executive leadership team. In this role, Tappin will lead the development and execution of the Company's inorganic growth strategy, including mergers and acquisitions (M&A), investments, joint ventures, and related matters. Tappin brings significant experience in developing corporate strategy related to the energy transition and executing those plans to drive growth. Prior to joining Stem, he held senior corporate development positions at
Stem, Inc. ("Stem" or the "Company") (NYSE:STEM), a global leader in artificial intelligence (AI)-driven clean energy storage services, today announced the appointment of Saul Laureles as its Chief Legal Officer and Corporate Secretary. In this role, Laureles will lead the Company's global legal function, including corporate governance, securities and mergers & acquisitions (M&A), as well as environmental, social, and governance compliance. Laureles brings more than 20 years of legal and strategic business experience including handling complex legal and financial matters and advising executives and board members on corporate governance, securities and M&A, and other general corporate matte
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