FY2026 EPS Estimate for Applied Digital Cut by Analyst

Key Points

• Northland Securities cut FY2026 EPS to ($0.56) from ($0.28), while the analyst consensus for the current full year is a loss of ($0.96) per share.
• Applied Digital missed quarterly EPS expectations, reporting ($0.36) vs. estimates of ($0.13) despite revenue of $108.55 million that beat forecasts, and the company still posts a negative net margin (-52.84%) and negative ROE (-15.91%).
• Analyst sentiment is mixed—average recommendation is a "Moderate Buy" with a $39.20 target and some bullish 2027 commentary, but several firms have cut near‑term estimates and insiders have recently sold shares while institutions own roughly 65.7% of the stock.

Applied Digital Corporation (NASDAQ:APLD - Free Report) - Research analysts at Northland Securities reduced their FY2026 earnings per share estimates for Applied Digital in a report issued on Thursday, April 9th. Northland Securities analyst M. Grondahl now expects that the company will earn ($0.56) per share for the year, down from their prior forecast of ($0.28). The consensus estimate for Applied Digital's current full-year earnings is ($0.96) per share.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business's revenue for the quarter was up 139.3% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share.

Several other equities research analysts also recently weighed in on APLD. Arete Research began coverage on Applied Digital in a report on Wednesday, January 7th. They issued a "buy" rating for the company. Roth Mkm reissued a "buy" rating on shares of Applied Digital in a report on Tuesday, February 17th. B. Riley Financial increased their price objective on Applied Digital to $53.00 and gave the company a "buy" rating in a report on Friday, January 9th. Citigroup reissued an "outperform" rating on shares of Applied Digital in a report on Wednesday, January 28th. Finally, Zacks Research downgraded Applied Digital from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.20.

Applied Digital Stock Performance

Shares of APLD opened at $27.60 on Tuesday. The stock has a 50 day moving average price of $28.74 and a 200 day moving average price of $29.57. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -37.30 and a beta of 7.25. Applied Digital has a 52-week low of $3.31 and a 52-week high of $42.27.

Insider Activity

In other news, Director Chuck Hastings sold 45,987 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $38.57, for a total value of $1,773,718.59. Following the completion of the sale, the director directly owned 388,372 shares of the company's stock, valued at approximately $14,979,508.04. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Nottenburg sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total value of $425,400.00. Following the sale, the director owned 233,378 shares of the company's stock, valued at $8,273,250.10. This trade represents a 4.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 234,593 shares of company stock valued at $8,617,878. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Digital

Several large investors have recently modified their holdings of APLD. AQR Capital Management LLC raised its stake in shares of 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 last quarter. NewEdge Advisors LLC raised its stake in shares of Applied Digital by 239.1% during the first quarter. NewEdge Advisors LLC now owns 33,267 shares of the company's stock worth $187,000 after purchasing an additional 23,457 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Applied Digital by 113.3% during the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock worth $37,000 after purchasing an additional 3,542 shares during the last quarter. Strs Ohio purchased a new stake in shares of Applied Digital during the first quarter worth approximately $71,000. Finally, Cetera Investment Advisers raised its stake in shares of Applied Digital by 61.0% during the second quarter. Cetera Investment Advisers now owns 61,656 shares of the company's stock worth $621,000 after purchasing an additional 23,360 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company's stock.

Applied Digital News Summary

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

• Positive Sentiment: HC Wainwright raised its FY2027 EPS forecast sharply to $0.69 and projects multiple profitable quarters in 2027, providing a clear bullish earnings re‑rating scenario for APLD. HC Wainwright research note on APLD
• Positive Sentiment: Analyst consensus remains constructive overall: Applied Digital received an average recommendation of "Moderate Buy," which supports demand if sentiment on 2027 earnings stays positive. Applied Digital Receives Average Recommendation
• Neutral Sentiment: Longer‑term commentary (Motley Fool) highlights meaningful upside from Applied Digital’s AI/data center growth but stresses execution risk and costs — useful context but not an immediate catalyst. Where Will Applied Digital Stock Be in 5 Years?
• Negative Sentiment: HC Wainwright and Northland cut FY2026 and Q4‑2026 EPS estimates (HCW to -$0.65 FY2026 and Q4‑2026 to -$0.11; Northland to -$0.56 FY2026), signaling continued near‑term pressure and higher costs that could limit upside until 2027 results are visible. Analyst estimate changes for APLD
• Negative Sentiment: Recent coverage (Yahoo/Zacks) flags mounting losses, rising costs and dependence on a single large tenant — factors that increase execution and concentration risk and could weigh on multiple valuation scenarios. APLD's Losses Continue Despite Growth Push

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.

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