Goldman Sachs Raises its Price Target on Fluence Energy (FLNC) to $22

Fluence Energy, Inc. (NASDAQ:FLNC) is one of the 10 Best Utility Stocks that Beat Earnings Estimates.

On May 8, 2026, Goldman Sachs raised the firm’s price target on Fluence Energy, Inc. (NASDAQ:FLNC) to $22 from $20 while maintaining a Buy rating on the shares. The firm said Q2 results were mixed, though management reaffirmed its FY26 guidance and continued to highlight strong demand trends, particularly tied to data center opportunities. Goldman added that Fluence signed two master supply agreements with hyperscalers during the quarter, supporting a majority of its 12 GW data center pipeline.

On May 6, 2026, Fluence Energy, Inc. (NASDAQ:FLNC) reported Q2 revenue of $464.89M. President and CEO Julian Nebreda said the company has started to see benefits from pipeline growth, with order activity accelerating in recent months and backlog reaching another record level. Nebreda also said Fluence achieved substantial completion on its first Smartstack delivery and confirmed continued access to its domestic content offering in the U.S. Nebreda added that the company’s customer expansion strategy is gaining traction, noting that Fluence signed master supply agreements with two hyperscale customers and expects to convert its first related order in the near term.

Goldman Sachs Raises its Price Target on Fluence Energy (FLNC) to $22

Fluence Energy, Inc. (NASDAQ:FLNC) maintained its FY26 adjusted EBITDA outlook of $40M-$60M. Chief Financial Officer Ahmed Pasha said improved adjusted EBITDA performance relative to the first half of fiscal 2025 reflects progress on profitable growth initiatives and supports the company’s reaffirmed guidance. Pasha also said Fluence’s liquidity position provides flexibility to support ongoing growth plans.

Fluence Energy, Inc. (NASDAQ:FLNC), through its subsidiaries, provides energy storage systems and optimization software for renewable energy and storage applications globally.

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