Stock price analysis: Plug Power Stock has provided its financial outlook for 2025, projecting revenue between $850 million and $950 million (street view: $1.185 billion) and a gross margin of -20% to -5%.
Looking ahead, the company is targeting a revenue of around $3.75 billion by 2030, with a goal of achieving a gross margin exceeding 30%.
In a press release yesterday, the company revised its full-year 2024 revenue forecast to a range of $700 million to $800 million, down from previous estimates of $823.46 million.
This year, Plug Power Stock has reached several significant milestones, including the expansion of its hydrogen production capabilities with the commissioning of a 15 TPD plant in Georgia and an upgrade to a 10 TPD facility in Tennessee. Additionally, the company set a record for electrolyzer deployments, featuring a 100 MW system for Galp across five continents.
Plug has successfully provided its first liquid green hydrogen supplies to major customers such as Walmart Inc., Amazon.com, Inc., and Home Depot, Inc., while also establishing stationary power sites throughout the United States.
The company has rolled out next-generation PEM electrolyzers and a mobile refueler to enable swift hydrogen deployment for fleet vehicles. In addition, Plug has formed strategic global partnerships with BP, Iberdrola, and Allied Green Ammonia to enhance hydrogen infrastructure.
Looking ahead, Plug aims for a compound annual growth rate (CAGR) of approximately 30% in its Energy and Applications sectors from 2025 to 2030.
The company has also appointed Sanjay Shrestha as its new President. Previously, Shrestha served as the Chief Strategy Officer and General Manager of Energy Solutions, while Andy Marsh will continue in his role as CEO.
In addition, Plug is hosting its sixth annual Plug Symposium at its Vista headquarters and manufacturing facility in Slingerlands. The event includes presentations from CEO Andy Marsh and other senior executives.
According to Benzinga Pro, PLUG stock has declined by over 44% in the past year. Investors can gain exposure to the stock through the Global X Hydrogen ETF (NASDAQ:HYDR).
Price Action: As of the latest update on Wednesday, Plug Power Stock is up 6%, trading at $2.025.
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