Applied Digital Co. (NASDAQ:APLD) Receives $10.67 Consensus PT from Analysts

Shares of Applied Digital Co. (NASDAQ:APLD) have received a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.67.

Several research firms have weighed in on APLD. Compass Point started coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Applied Digital in a research report on Wednesday, April 23rd. Cantor Fitzgerald reduced their price target on Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. HC Wainwright lowered their price objective on Applied Digital from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Northland Securities boosted their price objective on Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Dakota Wealth Management grew its stake in shares of Applied Digital by 33.3% during the 1st quarter. Dakota Wealth Management now owns 20,000 shares of the company’s stock worth $112,000 after purchasing an additional 5,000 shares during the period. SBI Securities Co. Ltd. grew its position in Applied Digital by 13.3% during the first quarter. SBI Securities Co. Ltd. now owns 30,581 shares of the company’s stock valued at $172,000 after buying an additional 3,593 shares during the period. CWM LLC increased its holdings in Applied Digital by 116.5% in the first quarter. CWM LLC now owns 9,506 shares of the company’s stock valued at $53,000 after buying an additional 5,116 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Applied Digital by 44.8% in the first quarter. New York State Common Retirement Fund now owns 59,119 shares of the company’s stock valued at $332,000 after buying an additional 18,300 shares in the last quarter. Finally, Sentinel Trust Co. LBA acquired a new position in shares of Applied Digital in the first quarter worth about $165,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Stock Up 1.7 %

Applied Digital stock opened at $5.30 on Monday. Applied Digital has a one year low of $2.98 and a one year high of $12.48. The stock has a fifty day moving average of $5.87 and a 200 day moving average of $7.58. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $1.19 billion, a PE ratio of -3.06 and a beta of 5.18.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $52.92 million for the quarter, compared to analysts’ expectations of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same period in the previous year, the company earned ($0.24) EPS. As a group, sell-side analysts predict that Applied Digital will post -0.96 EPS for the current year.

Applied Digital Company Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.