Citizens Jmp Issues Positive Forecast for Applied Digital (NASDAQ:APLD) Stock Price

Applied Digital (NASDAQ:APLD) had its price target upped by analysts at Citizens Jmp from $40.00 to $60.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s target price would indicate a potential upside of 28.30% from the company’s previous close.

Several other equities research analysts have also recently weighed in on APLD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a research report on Friday, April 24th. Needham & Company LLC raised their target price on Applied Digital to $66.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Lake Street Capital reiterated a “buy” rating and issued a $70.00 price objective on shares of Applied Digital in a research note on Thursday. Finally, Citigroup restated an “outperform” rating on shares of Applied Digital in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.33.

Applied Digital Stock Performance

Applied Digital stock traded up $7.25 during midday trading on Thursday, reaching $46.77. 18,467,172 shares of the company’s stock were exchanged, compared to its average volume of 26,066,996. The stock’s 50-day simple moving average is $31.63 and its 200 day simple moving average is $30.67. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of -63.27 and a beta of 5.69. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. Applied Digital has a 52 week low of $6.68 and a 52 week high of $47.79.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data 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). The business had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business’s quarterly revenue was up 139.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, analysts expect that Applied Digital will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director owned 208,378 shares of the company’s stock, valued at $7,207,795.02. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares of the company’s stock, valued at $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. Insiders sold 35,000 shares of company stock worth $1,182,175 in the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Applied Digital

A number of institutional investors have recently added to or reduced their stakes in APLD. Teachers Retirement System of The State of Kentucky bought a new position in shares of Applied Digital in the third quarter valued at approximately $994,000. Federated Hermes Inc. purchased a new stake in Applied Digital in the 3rd quarter worth approximately $3,204,000. AlphaQuest LLC bought a new position in Applied Digital in the 3rd quarter valued at $1,369,000. MRA Advisory Group bought a new position in Applied Digital in the 3rd quarter valued at $978,000. Finally, Vanguard Group Inc. increased its holdings in shares of Applied Digital by 23.2% in the third quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company’s stock worth $406,547,000 after purchasing an additional 3,339,062 shares during the period. 65.67% of the stock is owned by institutional investors.

Key Stories Impacting Applied Digital

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

• Positive Sentiment: Applied Digital announced a long-term, high-investment-grade hyperscaler lease for its Polaris Forge 3 campus, a deal valued at about $7.5 billion and tied to 300 MW of capacity. The agreement pushed total contracted baseline revenue to roughly $31 billion, or as much as $73 billion if renewal options are exercised, strengthening visibility into future cash flows. Article Title
• Positive Sentiment: Needham raised its price target on Applied Digital to $66 and reiterated a buy rating, adding to bullish sentiment around the stock after the lease announcement. Article Title
• Positive Sentiment: Commentary from several outlets highlighted Applied Digital’s surge as part of a broader move in AI infrastructure and data center names, with investors viewing the company as a key beneficiary of rising AI compute demand. Article Title
• Neutral Sentiment: Market coverage also noted Applied Digital among the day’s biggest stock movers, reflecting heightened trading interest and volatility following the contract news. 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.