Plug Power Looks Like a Bargain on the Surface. Here's What Investors Should Know.

2026-04-22 14:30:00 ET

Plug Power (NASDAQ: PLUG) , a developer of hydrogen charging technologies, trades at just over five times this year's sales. Yet analysts expect its revenue to grow at a 17% CAGR from 2025 to 2028, with its adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) turning positive in the final year. Its stock would also need to more than double to reach Wall Street's highest price target of $7.00 -- which Craig-Hallum's Eric Stine set earlier this year.

Therefore, the bulls might argue that Plug Power's stock -- which has already rallied nearly 260% over the past 12 months -- still looks like a bargain in this choppy market. However, investors should keep a few things in mind before hopping aboard the bandwagon.

Image source: Getty Images.

Continue reading