Applied Digital (NASDAQ:APLD) Announces Earnings Results, Misses Estimates By $0.05 EPS

Applied Digital (NASDAQ:APLD - Get Free Report) announced its earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05), Zacks reports. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $52.92 million during the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the prior year, the company earned ($0.24) earnings per share.

Applied Digital Trading Down 3.4 %

Shares of NASDAQ:APLD traded down $0.14 during midday trading on Friday, hitting $3.94. 36,300,379 shares of the stock traded hands, compared to its average volume of 28,302,324. The business's 50 day moving average is $6.78 and its two-hundred day moving average is $7.78. The stock has a market capitalization of $878.24 million, a PE ratio of -2.28 and a beta of 5.18. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital has a one year low of $2.36 and a one year high of $12.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on APLD shares. Cantor Fitzgerald dropped their target price on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research report on Tuesday. HC Wainwright lowered their price target on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. Northland Securities upped their target price on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Finally, Needham & Company LLC lowered their price objective on shares of Applied Digital from $11.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital currently has a consensus rating of "Buy" and a consensus target price of $10.67.

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.