Applied Digital (NASDAQ:APLD) Given New $79.00 Price Target at Craig Hallum

Applied Digital (NASDAQ:APLD) had its price objective upped by Craig Hallum from $75.00 to $79.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target suggests a potential upside of 90.18% from the company’s current price.

Several other analysts also recently commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of Applied Digital in a research note on Tuesday. Needham & Company LLC increased their price target on Applied Digital from $66.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen cut Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Lake Street Capital raised their price objective on shares of Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $66.00 target price (up from $53.00) on shares of Applied Digital in a research note on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $67.67.

Applied Digital Trading Up 1.5%

Applied Digital stock traded up $0.60 during midday trading on Tuesday, hitting $41.54. 12,491,977 shares of the stock were exchanged, compared to its average volume of 25,533,820. The stock has a market capitalization of $11.87 billion, a PE ratio of -57.47 and a beta of 5.69. The company has a fifty day simple moving average of $36.49 and a two-hundred day simple moving average of $32.25. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. Applied Digital has a 52 week low of $9.02 and a 52 week high of $50.72.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). The firm had revenue of $108.55 million during the quarter, compared to the consensus estimate of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The firm’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. Equities research analysts anticipate that Applied Digital will post -0.68 EPS for the current fiscal year.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the completion of the transaction, the director directly owned 208,378 shares in the company, valued at $7,207,795.02. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the transaction, the director owned 184,859 shares in the company, valued at approximately $6,466,367.82. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 35,000 shares of company stock worth $1,182,175. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Digital

Several hedge funds have recently added to or reduced their stakes in APLD. Parallel Advisors LLC lifted its stake in shares of Applied Digital by 126.1% during the 1st quarter. Parallel Advisors LLC now owns 2,614 shares of the company’s stock worth $62,000 after buying an additional 1,458 shares during the last quarter. Vestor Capital LLC bought a new position in Applied Digital in the 1st quarter valued at about $98,000. Western Wealth Management LLC acquired a new stake in Applied Digital during the first quarter worth approximately $87,000. Janus Henderson Group PLC lifted its position in Applied Digital by 318.5% during the first quarter. Janus Henderson Group PLC now owns 785,152 shares of the company’s stock worth $18,638,000 after acquiring an additional 597,548 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Applied Digital by 61.8% during the first quarter. Amundi now owns 31,327 shares of the company’s stock worth $744,000 after acquiring an additional 11,968 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital News Roundup

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

• Positive Sentiment: Applied Digital signed a new 15-year, 210 MW lease at its Delta Forge 2 site with a U.S.-based investment-grade hyperscaler, which could generate about $5.2 billion in revenue and expands its AI Factory footprint to a fifth campus. Article Title
• Positive Sentiment: The company said this deal brings total contracted lease revenue to roughly $36 billion, with about 70% now backed by investment-grade hyperscalers, strengthening confidence in long-term cash flow growth. Article Title
• Positive Sentiment: Applied Digital also secured a revolving credit facility of up to $550 million, which should give it more flexibility to fund expansion and support strategic growth. Article Title
• Positive Sentiment: Needham raised its price target on Applied Digital to $83 from $66 and kept a Buy rating, signaling continued analyst confidence after the latest contract wins. Article Title
• Neutral Sentiment: The company announced plans to issue $1.59 billion of senior secured notes to help fund the fourth building at Polaris Forge 1, which supports growth but adds leverage and execution risk. Article Title
• Negative Sentiment: Zacks added APLD to its Rank #5 (Strong Sell) list, which may temper some investor enthusiasm despite the stock’s recent momentum. Article Title

Applied Digital Company Profile

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.