Plug Power Inc. (NASDAQ:PLUG) posted better-than-expected first-quarter results after Monday's closing bell.

Plug Power reported quarterly losses of eight cents per share, which beat the analyst consensus estimate for losses of nine cents, according to Benzinga Pro data. 

Quarterly revenue clocked in at $163.51 million, which beat the Street estimate of $141.17 million and was up from $133.67 million in the same period last year.

"Our first quarter results reflect strong commercial execution and continued progress improving the underlying economics of the business and positions us to achieve our EBITDAS positive target in Q4 2026," said Jose Luis Crespo, CEO of Plug.

Plug Power shares rose 4.1% to trade at $3.66 on Tuesday.

These analysts made changes to their price targets on Plug Power following earnings announcement.

  • BMO Capital analyst Ameet Thakkar maintained Plug Power with an Underperform rating and raised the price target from $1 to $1.2.
  • TD Cowen analyst Jeff Osborne maintained the stock with a Hold and raised the price target from $2 to $3.
  • B. Riley Securities analyst Ryan Pfingst maintained Plug Power with a Buy and raised the price target from $3 to $5.

Considering buying PLUG stock? Here’s what analysts think:

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