7 analysts have expressed a variety of opinions on Plug Power (NASDAQ:PLUG) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 0 | 2 | 3 | 0 |
| Last 30D | 0 | 0 | 0 | 1 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 2 | 0 | 2 | 2 | 0 |
Analysts have set 12-month price targets for Plug Power, revealing an average target of $5.2, a high estimate of $18.00, and a low estimate of $2.40. Experiencing a 10.96% decline, the current average is now lower than the previous average price target of $5.84.
Interpreting Analyst Ratings: A Closer Look
A clear picture of Plug Power's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Kashy Harrison | Piper Sandler | Lowers | Underweight | $2.40 | $2.50 |
| Amit Dayal | HC Wainwright & Co. | Maintains | Buy | $18.00 | $18.00 |
| George Gianarikas | Canaccord Genuity | Lowers | Hold | $3.00 | $4.00 |
| Jeffrey Osborne | TD Cowen | Lowers | Buy | $5.00 | $7.00 |
| Arthur Sitbon | Morgan Stanley | Lowers | Underweight | $2.50 | $3.00 |
| Kashy Harrison | Piper Sandler | Lowers | Underweight | $2.50 | $2.90 |
| Biju Perincheril | Susquehanna | Lowers | Neutral | $3.00 | $3.50 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Plug Power. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Plug Power compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Plug Power's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Plug Power's market standing. Stay informed and make well-considered decisions with our Ratings Table.
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Discovering Plug Power: A Closer Look
Plug Power is building an end-to-end green hydrogen ecosystem—from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
Unraveling the Financial Story of Plug Power
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Plug Power's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -42.81%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: Plug Power's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -245.94%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -10.15%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Plug Power's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -6.07%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.32.
The Significance of Analyst Ratings Explained
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.