Applied Digital (NASDAQ:APLD) Earns Buy Rating from Needham & Company LLC

2025-04-25T06:18:57Z

Applied Digital (NASDAQ:APLD – Get Free Report)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $10.00 target price on the stock. Needham & Company LLC’s target price poi…

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Compass Point assumed coverage on Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price for the company. Northland Securities upped their price target on shares of Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Finally, HC Wainwright decreased their price target on shares of Applied Digital from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $10.67.

Get Applied Digital alerts:

View Our Latest Stock Report on Applied Digital

Applied Digital Price Performance

NASDAQ APLD opened at $4.54 on Wednesday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -2.62 and a beta of 5.18. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $6.44 and its two-hundred day moving average is $7.68. Applied Digital has a 12 month low of $2.63 and a 12 month high of $12.48.

Applied Digital (NASDAQ:APLD – Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The firm had revenue of $52.92 million for the quarter, compared to analysts’ expectations of $62.91 million. During the same quarter in the previous year, the business earned ($0.24) EPS. As a group, research analysts anticipate that Applied Digital will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On Applied Digital

Several hedge funds have recently modified their holdings of APLD. Cambridge Investment Research Advisors Inc. acquired a new stake in Applied Digital during the 1st quarter valued at approximately $223,000. Crumly & Associates Inc. grew its holdings in Applied Digital by 48.8% during the first quarter. Crumly & Associates Inc. now owns 27,506 shares of the company’s stock worth $155,000 after acquiring an additional 9,022 shares during the period. Register Financial Advisors LLC increased its holdings in shares of Applied Digital by 26.2% during the 1st quarter. Register Financial Advisors LLC now owns 254,200 shares of the company’s stock valued at $1,429,000 after purchasing an additional 52,700 shares in the last quarter. PFG Investments LLC purchased a new stake in Applied Digital during the first quarter worth $79,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in Applied Digital during the first quarter valued at $90,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

About Applied Digital

(Get Free Report)

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.