Free Trial

Applied Digital (NASDAQ:APLD) Earns Buy Rating from Needham & Company LLC

Applied Digital logo with Finance background

Applied Digital (NASDAQ:APLD - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. Needham & Company LLC's price target would indicate a potential downside of 2.44% from the stock's previous close.

APLD has been the topic of several other reports. Citizens Jmp upgraded shares of Applied Digital to a "strong-buy" rating and set a $12.00 price objective on the stock in a research note on Thursday, May 22nd. HC Wainwright lowered their target price on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald cut their price objective 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, April 15th. Northland Securities lifted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Finally, JMP Securities assumed coverage on shares of Applied Digital in a research note on Thursday, May 22nd. They set a "market outperform" rating and a $12.00 target price on the stock. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $11.91.

View Our Latest Analysis on Applied Digital

Applied Digital Stock Up 1.1%

Applied Digital stock traded up $0.11 during mid-day trading on Monday, hitting $10.25. 150,246,092 shares of the company's stock were exchanged, compared to its average volume of 33,631,281. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital has a 1-year low of $3.01 and a 1-year high of $12.48. The stock has a 50 day moving average of $5.61 and a two-hundred day moving average of $7.42. The stock has a market cap of $2.30 billion, a P/E ratio of -5.92 and a beta of 6.09.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. During the same period in the prior year, the business earned ($0.24) EPS. As a group, analysts anticipate that Applied Digital will post -0.96 EPS for the current fiscal year.

Insider Transactions at Applied Digital

In related news, Director Rachel H. Lee sold 24,212 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total transaction of $169,484.00. Following the transaction, the director now owns 83,613 shares in the company, valued at $585,291. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.81% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APLD. Barclays PLC boosted its position in shares of Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after acquiring an additional 428,428 shares in the last quarter. KBC Group NV acquired a new position in Applied Digital during the fourth quarter valued at approximately $55,000. R Squared Ltd acquired a new position in shares of Applied Digital in the fourth quarter valued at approximately $36,000. Spire Wealth Management acquired a new position in shares of Applied Digital in the fourth quarter valued at approximately $43,000. Finally, Calamos Advisors LLC acquired a new position in Applied Digital during the fourth quarter worth $1,273,000. Institutional investors own 65.67% of the company's stock.

About Applied Digital

(Get Free Report)

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.

Read More

Analyst Recommendations for Applied Digital (NASDAQ:APLD)

Should You Invest $1,000 in Applied Digital Right Now?

Before you consider Applied Digital, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.

While Applied Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

12 Stocks Corporate Insiders are Abandoning Cover

If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Top 3 Defense Stocks to Profit From $175 Billion Golden Dome
Top 5 Stocks for June: AI Picks That Aren’t NVIDIA
This Unique Robotaxi Play Could Deliver 10X Returns

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines