Plug Power (PLUG) stock has fallen 5.2% over the past week and dropped 13.0% over the past month, yet it is still up 20.7% over the last twelve months. Wall Street’s analysts are neutral, with a Hold consensus and forecasting a modest move to a 12‑month price target of $1.95 from the last close at $1.81.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Analyst Amit Dayal has reiterated a Buy rating on Plug Power, setting a price target of $7.00, well above the current consensus. Dayal highlights a positive turn in the company’s latest quarter, where Plug delivered its first positive gross margin since 2020, suggesting improving fundamentals beneath the volatile share price.
According to Dayal, fourth‑quarter 2025 revenues reached $225.2 million, an 18% year‑over‑year increase and ahead of his expectations. The company posted a small gross profit of $5.5 million, or 2.4% of revenues, as both equipment and service margins improved significantly thanks to cost‑saving features and a better service model.
While Plug Power still reported a large GAAP net loss of $811.2 million, much of this was driven by one‑time impairment charges on unused assets. Dayal notes that these assets are not obsolete and can be monetized, with the company already planning a data center sale expected to bring in over $275 million and strengthen near‑term liquidity.
Dayal believes Plug’s nearly $994 million in cash, plus expected proceeds from asset sales, position it well to aim for positive EBITDAS by the end of 2026. This N‑star analyst ranks 5957 out of 12096 on TipRanks, with a 33.95% success rate and 1.10% average return per rating. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.