Analysts Set Applied Digital Corporation (NASDAQ:APLD) Target Price at $70.56

Applied Digital Corporation (NASDAQ:APLD) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $67.15.

A number of equities research analysts have recently issued reports on APLD shares. Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Needham & Company LLC lifted their price objective on shares of Applied Digital from $66.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Compass Point reissued a “buy” rating and issued a $70.00 price objective on shares of Applied Digital in a report on Friday, May 22nd. Citizens Jmp increased their target price on shares of Applied Digital from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 21st. Finally, Lucid Cap Mkts raised shares of Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th.

Key Stories Impacting Applied Digital

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

• Positive Sentiment: Several recent articles highlight Applied Digital’s growing appeal as an AI infrastructure play, with analysts pointing to long-term, contracted revenue from its data center assets and saying the stock could have substantial upside heading into earnings. Applied Digital Could Have 155% Upside Ahead of July 27 Q2 Earnings
• Positive Sentiment: Morgan Stanley’s broader view that bitcoin miners and adjacent companies with large, grid-connected power assets could benefit from surging AI data center demand may also support sentiment around Applied Digital’s asset base. Morgan Stanley sees AI data center pivot unlocking upside for bitcoin miners
• Neutral Sentiment: Investors are waiting for Applied Digital’s Q4 earnings, with previews suggesting the company may show strong AI infrastructure growth, but results could be mixed if profitability remains weak. Applied Digital Q4 2026 earnings preview: mixed results anticipated
• Neutral Sentiment: Applied Digital also appeared in a short-interest update showing no reported short interest, which does not provide a meaningful bearish signal but does indicate limited recent short positioning data.
• Negative Sentiment: Some coverage is cautioning that Applied Digital remains a cash-burning stock and that its valuation looks expensive after a strong multi-year run, which could weigh on the shares if earnings do not strongly confirm the growth story. 3 Cash-Burning Stocks We Approach with Caution
• Negative Sentiment: Another article said Applied Digital looks expensive based on value checks after its huge five-year gain, suggesting investors may be demanding more evidence of earnings power before bidding the stock higher. Applied Digital (APLD) Stock Looks Expensive After A 314% Return And Weak Value Checks

Applied Digital Stock Down 9.0%

APLD stock opened at $27.19 on Wednesday. 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 stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of -36.74 and a beta of 5.67. The business’s fifty day moving average price is $38.80 and its two-hundred day moving average price is $34.54. Applied Digital has a fifty-two week low of $9.79 and a fifty-two week high of $50.72.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APLD. AQR Capital Management LLC lifted its position in Applied Digital by 84.8% during the first quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock worth $106,000 after purchasing an additional 8,692 shares during the period. NewEdge Advisors LLC increased its holdings in Applied Digital by 239.1% in the 1st quarter. NewEdge Advisors LLC now owns 33,267 shares of the company’s stock valued at $187,000 after buying an additional 23,457 shares during the period. Geneos Wealth Management Inc. increased its holdings in Applied Digital by 113.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after buying an additional 3,542 shares during the period. Strs Ohio acquired a new position in shares of Applied Digital in the 1st quarter valued at approximately $71,000. Finally, Cetera Investment Advisers raised its position in shares of Applied Digital by 61.0% in the 2nd quarter. Cetera Investment Advisers now owns 61,656 shares of the company’s stock valued at $621,000 after buying an additional 23,360 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

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.