Shares of Plug Power (NASDAQ:PLUG) fell in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at -$0.40, which missed analysts’ consensus estimate of -$0.27 per share.
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Sales increased by 72% year-over-year, with revenue hitting $260.18 million. This beat analysts’ expectations by $21.7 million.
Looking forward, management now expects revenue for FY 2023 to be between $1.2 billion to $1.4 billion. For reference, analysts were expecting $1.29 billion in revenue.
Overall, Wall Street has a consensus price target of $19.54 on PLUG stock, implying 81.51% upside potential, as indicated by the graphic above.