HC Wainwright Comments on Applied Digital FY2027 Earnings

Key Points

• HC Wainwright analysts predict that Applied Digital Corporation will achieve $0.04 earnings per share in FY2027, maintaining a Buy rating with a price target of $20.00.
• Currently, Applied Digital has a consensus rating of Buy from twelve analysts, with a consensus target price of $15.64.
• In recent trading, Applied Digital shares opened at $15.95, with a year-high of $16.92 and a low of $3.01 over the past twelve months.

Applied Digital Corporation (NASDAQ:APLD - Free Report) - Equities research analysts at HC Wainwright issued their FY2027 earnings per share estimates for shares of Applied Digital in a research note issued to investors on Monday, August 25th. HC Wainwright analyst K. Dede expects that the company will post earnings per share of $0.04 for the year. HC Wainwright has a "Buy" rating and a $20.00 price objective on the stock. The consensus estimate for Applied Digital's current full-year earnings is ($0.96) per share.

APLD has been the subject of several other reports. Citigroup restated an "outperform" rating on shares of Applied Digital in a research note on Tuesday, June 3rd. Lake Street Capital upped their price target on Applied Digital from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Citizens Jmp raised shares of Applied Digital to a "strong-buy" rating and set a $12.00 price objective for the company in a research report on Thursday, May 22nd. Needham & Company LLC increased their price objective on shares of Applied Digital from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, B. Riley increased their price objective on shares of Applied Digital from $8.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to MarketBeat.com, Applied Digital currently has a consensus rating of "Buy" and a consensus target price of $15.64.

Applied Digital Stock Performance

Shares of NASDAQ:APLD opened at $15.95 on Tuesday. The firm has a market capitalization of $4.17 billion, a PE ratio of -14.63 and a beta of 6.17. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $11.90 and a two-hundred day moving average of $8.78. Applied Digital has a 12 month low of $3.01 and a 12 month high of $16.92.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). Applied Digital had a negative return on equity of 50.03% and a negative net margin of 107.22%.The firm had revenue of $38.01 million for the quarter, compared to analyst estimates of $42.86 million. During the same period last year, the company earned ($0.14) EPS. The firm's quarterly revenue was up 41.3% on a year-over-year basis.

Insider Activity at Applied Digital

In other news, Director Richard N. Nottenburg sold 11,250 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $14.22, for a total transaction of $159,975.00. Following the completion of the sale, the director directly owned 317,987 shares in the company, valued at $4,521,775.14. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Applied Digital

A number of institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC raised its stake in shares of Applied Digital by 6.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 15,930 shares of the company's stock valued at $160,000 after purchasing an additional 900 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Applied Digital by 1.6% in the 2nd quarter. Quantinno Capital Management LP now owns 68,417 shares of the company's stock valued at $689,000 after buying an additional 1,063 shares during the period. Corebridge Financial Inc. boosted its holdings in shares of Applied Digital by 2.0% in the 1st quarter. Corebridge Financial Inc. now owns 97,224 shares of the company's stock valued at $546,000 after buying an additional 1,899 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Applied Digital by 14.8% in the 1st quarter. Wedbush Securities Inc. now owns 15,500 shares of the company's stock valued at $87,000 after buying an additional 2,000 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Applied Digital by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 19,056 shares of the company's stock valued at $107,000 after buying an additional 2,001 shares during the period. Institutional investors and hedge funds own 65.67% of the company's stock.

About Applied Digital

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.

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