Applied Digital (NASDAQ:APLD) Stock Price Expected to Rise, Craig Hallum Analyst Says

Applied Digital (NASDAQ:APLD) had its price target upped by Craig Hallum from $75.00 to $79.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 90.18% from the stock’s current price.

A number of other equities analysts have also commented on APLD. Needham & Company LLC boosted their price target on shares of Applied Digital from $66.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Research upgraded shares of Applied Digital from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Lake Street Capital increased their price target on Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Finally, Wall Street Zen downgraded Applied Digital from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $67.67.

Applied Digital Price Performance

Shares of Applied Digital stock traded up $0.60 during midday trading on Tuesday, hitting $41.54. 12,491,977 shares of the company were exchanged, compared to its average volume of 25,533,820. The firm has a 50 day simple moving average of $36.49 and a 200-day simple moving average of $32.25. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market cap of $11.87 billion, a P/E ratio of -57.47 and a beta of 5.69. Applied Digital has a 52 week low of $9.02 and a 52 week high of $50.72.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The company had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm’s revenue was up 139.3% compared to the same quarter last year. Research analysts forecast that Applied Digital will post -0.68 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the transaction, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. This trade represents a 5.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares of the company’s stock, valued at $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 35,000 shares of company stock worth $1,182,175. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. raised its stake in shares of Applied Digital by 8.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company’s stock worth $93,000 after buying an additional 300 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Applied Digital by 1.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company’s stock valued at $523,000 after acquiring an additional 318 shares during the last quarter. Brookstone Capital Management grew its holdings in Applied Digital by 3.6% during the 4th quarter. Brookstone Capital Management now owns 9,275 shares of the company’s stock worth $227,000 after acquiring an additional 321 shares during the period. ProShare Advisors LLC grew its holdings in Applied Digital by 1.0% during the 3rd quarter. ProShare Advisors LLC now owns 36,652 shares of the company’s stock worth $841,000 after acquiring an additional 376 shares during the period. Finally, Independent Advisor Alliance raised its position in shares of Applied Digital by 4.6% during the 4th quarter. Independent Advisor Alliance now owns 9,215 shares of the company’s stock valued at $226,000 after acquiring an additional 407 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.

Key Headlines Impacting Applied Digital

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital signed a new 15-year, 210 MW lease at its Delta Forge 2 site with a U.S.-based investment-grade hyperscaler, which could generate about $5.2 billion in revenue and expands its AI Factory footprint to a fifth campus. Article Title
• Positive Sentiment: The company said this deal brings total contracted lease revenue to roughly $36 billion, with about 70% now backed by investment-grade hyperscalers, strengthening confidence in long-term cash flow growth. Article Title
• Positive Sentiment: Applied Digital also secured a revolving credit facility of up to $550 million, which should give it more flexibility to fund expansion and support strategic growth. Article Title
• Positive Sentiment: Needham raised its price target on Applied Digital to $83 from $66 and kept a Buy rating, signaling continued analyst confidence after the latest contract wins. Article Title
• Neutral Sentiment: The company announced plans to issue $1.59 billion of senior secured notes to help fund the fourth building at Polaris Forge 1, which supports growth but adds leverage and execution risk. Article Title
• Negative Sentiment: Zacks added APLD to its Rank #5 (Strong Sell) list, which may temper some investor enthusiasm despite the stock’s recent momentum. Article Title

About Applied Digital

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.