Applied Digital (NASDAQ:APLD) Given New $20.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Applied Digital (NASDAQ:APLD) from $15.00 to $20.00, indicating a potential upside of 24.61% based on the company's current stock price.
• The stock has received multiple "buy" ratings from various analysts, solidifying a consensus rating of "Buy" with a consensus price target of $15.64.
• Applied Digital reported a quarterly revenue of $38.01 million, which was below analysts' expectations, despite a 41.3% increase compared to the same quarter last year.

Applied Digital (NASDAQ:APLD - Free Report) had its price target lifted by HC Wainwright from $15.00 to $20.00 in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Applied Digital's Q1 2026 earnings at ($0.08) EPS, Q2 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.03 EPS, Q4 2026 earnings at $0.00 EPS, FY2026 earnings at ($0.08) EPS and FY2027 earnings at $0.04 EPS.

Several other research analysts also recently issued reports on APLD. Craig Hallum lifted their price target on Applied Digital from $12.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Lake Street Capital lifted 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. JMP Securities lifted their price target on Applied Digital from $12.00 to $18.00 and gave the stock a "market outperform" rating in a research note on Tuesday, June 3rd. Citizens Jmp raised Applied Digital to a "strong-buy" rating and set a $12.00 price target for the company in a research note on Thursday, May 22nd. Finally, Needham & Company LLC lifted their price target on Applied Digital from $12.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat, Applied Digital presently has a consensus rating of "Buy" and a consensus price target of $15.64.

Applied Digital Stock Performance

Shares of NASDAQ APLD traded up $0.23 during trading on Monday, hitting $16.70. 24,990,981 shares of the company were exchanged, compared to its average volume of 36,126,380. Applied Digital has a 1 year low of $3.01 and a 1 year high of $16.92. The firm's fifty day moving average price is $12.13 and its 200 day moving average price is $8.89. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.77 and a quick ratio of 0.77.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $38.01 million during the quarter, compared to the consensus estimate of $42.86 million. Applied Digital had a negative return on equity of 50.03% and a negative net margin of 107.22%.The business's revenue was up 41.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.14) EPS. As a group, analysts anticipate that Applied Digital will post -0.96 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard N. Nottenburg sold 11,250 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $14.22, for a total value of $159,975.00. Following the completion of the transaction, the director owned 317,987 shares of the company's stock, valued at approximately $4,521,775.14. The trade was a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.81% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in Applied Digital in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Applied Digital in the 2nd quarter valued at about $26,000. Ameriflex Group Inc. purchased a new stake in Applied Digital in the 2nd quarter valued at about $42,000. PNC Financial Services Group Inc. purchased a new stake in Applied Digital in the 1st quarter valued at about $28,000. Finally, Hollencrest Capital Management purchased a new stake in Applied Digital in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 65.67% of the company's stock.

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.