Applied Digital Corporation (NASDAQ:APLD) Receives $70.56 Consensus Target Price from Brokerages

Applied Digital Corporation (NASDAQ:APLD) has received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $70.5556.

APLD has been the topic of a number of research analyst reports. Lake Street Capital increased their price objective on shares of Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Northland Securities set a $82.00 price target on Applied Digital and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Compass Point reissued a “buy” rating and issued a $70.00 price objective on shares of Applied Digital in a report on Friday, May 22nd. Finally, Citigroup restated a “market outperform” rating on shares of Applied Digital in a research note on Tuesday, June 9th.

Insider Buying and Selling

In other news, Director Richard N. Nottenburg sold 12,500 shares of the business’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 sale, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital 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 completion of the transaction, the director directly owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. This represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,000 shares of company stock valued at $1,182,175 over the last quarter. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Applied Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Noble Wealth Management PBC acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. Albion Financial Group UT bought a new position in Applied Digital during the 4th quarter worth $25,000. Activest Wealth Management bought a new position in Applied Digital during the 4th quarter worth $25,000. Ameriflex Group Inc. bought a new position in Applied Digital during the 4th quarter worth $25,000. Finally, McMillan Office Inc. acquired a new stake in Applied Digital in the fourth quarter worth $25,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $35.52 on Friday. 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 fifty-two week low of $9.02 and a fifty-two week high of $50.72. The business has a 50 day moving average price of $41.78 and a two-hundred day moving average price of $34.04. The firm has a market cap of $10.15 billion, a PE ratio of -48.00 and a beta of 5.67.

Applied Digital (NASDAQ:APLD) last announced its 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). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 139.3% on a year-over-year basis. Sell-side analysts expect that Applied Digital will post -0.68 earnings per share for the current fiscal year.

Applied Digital News Summary

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

• Positive Sentiment: Applied Digital delivered Phase 1 of Building 2 at Polaris Forge 1 on schedule, adding 75 MW of operational AI capacity and lifting total live capacity at the campus to 175 MW. The company says the milestone reinforces its ability to turn power into revenue-generating AI infrastructure. Article: Applied Digital Delivers Second Building at Polaris Forge 1
• Positive Sentiment: Applied Digital was added to the Russell 1000 and Russell Midcap indexes, which can increase visibility and broaden ownership from large-cap and mid-cap index funds. Article: Applied Digital (APLD) Joins Russell 1000 As Its Market Profile Shifts
• Positive Sentiment: Analysts continue to rate Applied Digital a consensus Buy, with a 12-month median price target of $74.50, implying substantial upside from recent trading levels. Article: Applied Digital (APLD): One of the Top Hot Stocks with the Highest Upside Potential
• Neutral Sentiment: Several media reports highlighted Applied Digital as an AI infrastructure and power-deal beneficiary, reflecting optimism around demand for data-center capacity, but these were largely commentary pieces rather than new company-specific announcements. Article: A Small-Cap Utility Stock Just Signed 1 of the Biggest AI Power Deals You Haven’t Heard Of
• Negative Sentiment: Some investors remain cautious after a recent funding and credit update, and a separate market commentary piece argued the shares may already be fully valued after a big run-up, which could be limiting near-term upside. Article: Applied Digital fell 7%: Did market miss its $430M credit boost and funding update?

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.