Roth Capital Comments on Applied Digital FY2028 Earnings

Applied Digital Co. (NASDAQ:APLD - Free Report) - Stock analysts at Roth Capital issued their FY2028 earnings per share (EPS) estimates for Applied Digital in a research report issued on Monday, June 2nd. Roth Capital analyst D. Aftahi forecasts that the company will earn $0.98 per share for the year. Roth Capital has a "Buy" rating 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. Craig Hallum upped their target price on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday. Cantor Fitzgerald cut their target price on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. B. Riley increased their price target on Applied Digital from $8.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. JMP Securities increased their price target on Applied Digital from $12.00 to $18.00 and gave the company a "market outperform" rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Applied Digital in a research note on Monday, June 2nd. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $12.45.

Applied Digital Price Performance

NASDAQ APLD traded up $1.09 on Wednesday, hitting $13.86. 181,187,941 shares of the company's stock were exchanged, compared to its average volume of 38,268,891. The stock has a 50-day moving average of $6.15 and a 200-day moving average of $7.55. 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 52 week low of $3.01 and a 52 week high of $15.42. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -8.01 and a beta of 6.09.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). 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 for the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the previous year, the company earned ($0.24) earnings per share.

Institutional Trading of Applied Digital

A number of large investors have recently bought and sold shares of APLD. Barclays PLC grew its holdings in Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after acquiring an additional 428,428 shares during the period. KBC Group NV acquired a new stake in shares of Applied Digital in the 4th quarter valued at about $55,000. R Squared Ltd acquired a new stake in shares of Applied Digital in the 4th quarter valued at about $36,000. Spire Wealth Management acquired a new stake in shares of Applied Digital in the 4th quarter valued at about $43,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Applied Digital in the 4th quarter valued at about $1,273,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total transaction of $169,484.00. Following the completion of the sale, the director now directly owns 83,613 shares in the company, valued at approximately $585,291. This trade represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 11.81% of the stock is currently owned by company insiders.

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.