NASDAQ title Plug Power share: Plug Power wants to increase sales fivefold by 2027 October 23, 2023

NASDAQ title Plug Power share: Plug Power wants to increase sales fivefold by 2027 October 23, 2023

Plug Power increased its revenue by 72 percent to $260.18 million in the second quarter of 2023, but remains in the red. The performance of the Plug Power share was disappointing; it has lost 50.69 percent of its value since the beginning of the year. Nevertheless, 15 out of 22 analysts have recommended the stock as a buy and the average price target is $15.40. Plug Power announced in a recent symposium that the company aims to reach $6 billion in sales by 2027. By 2030, sales are expected to rise to $30 billion.

From a financial expert's perspective, this information shows that while Plug Power continues to make losses and its stock performance is poor, analysts are still bullish on the stock and see high upside potential. The company's announced revenue targets are ambitious, but achieving them could have a positive impact on the company's value and share price. However, it will be important to keep an eye on future quarterly results and the company's ability to meet its annual targets.