Applied Digital Corporation (NASDAQ:APLD) Stock Has Average Target Price of $59.75 According to Analysts

Applied Digital Corporation (NASDAQ:APLD) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $57.75.

A number of research analysts have commented on APLD shares. Rothschild & Co Redburn set a $22.00 price objective on shares of Applied Digital and gave the company a “neutral” rating in a research note on Monday, September 21st. B. Riley Financial decreased their price objective on Applied Digital from $75.00 to $51.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Wall Street Zen downgraded Applied Digital from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th. UBS Group reissued a “buy” rating on shares of Applied Digital in a report on Thursday, October 8th. Finally, Needham & Company LLC dropped their target price on Applied Digital from $83.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 8th.

Key Headlines Impacting Applied Digital

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

• Positive Sentiment: Applied Digital has leases covering about 1.41 gigawatts across five campuses, valued at roughly $36 billion over their base terms. Around 250 megawatts are already operational in North Dakota, and its tenants include CoreWeave and investment-grade hyperscalers—factors that may cushion it from Texas-specific permitting concerns. Riot’s $28B Lease Shows Why Location and Contracts Matter in AI
• Negative Sentiment: Investors sold data-center and AI infrastructure names after election-related concerns raised the prospect of a freeze on new Texas data-center approvals and tighter scrutiny of development. Although APLD has limited direct Texas exposure, investors appear concerned about wider permitting, power-grid and regulatory risks across the sector. Applied Digital Sinks as Data Center Rout Deepens
• Negative Sentiment: The sell-off spread beyond companies with substantial Texas operations, suggesting market-wide concerns about data-center development and AI infrastructure spending are weighing on APLD as well. Applied Digital and peers fall as Texas data-center fears deepen

Applied Digital Stock Performance

Shares of APLD opened at $14.17 on Friday. The company’s 50 day simple moving average is $23.16 and its 200-day simple moving average is $30.94. The firm has a market cap of $4.28 billion, a PE ratio of -8.64 and a beta of 5.58. Applied Digital has a 12-month low of $13.11 and a 12-month high of $50.72. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 3.90.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Wednesday, October 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.29. The firm had revenue of $300.39 million during the quarter, compared to the consensus estimate of $116.29 million. Applied Digital had a negative net margin of 51.28% and a negative return on equity of 27.21%. Applied Digital’s revenue for the quarter was up 367.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, equities analysts predict that Applied Digital will post -2.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Wes Cummins acquired 55,803 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were purchased at an average cost of $18.04 per share, for a total transaction of $1,006,686.12. Following the transaction, the chief executive officer directly owned 5,874,453 shares in the company, valued at approximately $105,975,132.12. This represents a 0.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Nottenburg sold 31,250 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $21.84, for a total transaction of $682,500.00. Following the completion of the transaction, the director directly owned 102,128 shares in the company, valued at $2,230,475.52. This represents a 23.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APLD. Maryland State Retirement & Pension System grew its holdings in shares of Applied Digital by 19.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 16,146 shares of the company’s stock worth $393,000 after acquiring an additional 2,647 shares during the period. Jacobi Capital Management LLC acquired a new position in Applied Digital during the third quarter worth $126,000. International Private Wealth Advisors LLC raised its holdings in Applied Digital by 203.3% during the third quarter. International Private Wealth Advisors LLC now owns 49,674 shares of the company’s stock worth $1,211,000 after purchasing an additional 33,298 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Applied Digital by 67.9% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,058 shares of the company’s stock worth $1,464,000 after purchasing an additional 24,292 shares during the last quarter. Finally, Ethic Inc. boosted its position in Applied Digital by 61.8% during the third quarter. Ethic Inc. now owns 18,104 shares of the company’s stock worth $441,000 after purchasing an additional 6,915 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Company Profile

Applied Digital Corporation (NASDAQ: APLD) develops and operates digital infrastructure designed to support high-performance computing and artificial intelligence applications. The company provides data-center capacity, hosting services and related infrastructure for customers that require substantial computing power and energy resources.

Its business includes high-performance computing data centers and cloud services intended to support artificial intelligence, machine learning, cryptocurrency mining and other compute-intensive workloads.