Needham & Company LLC Increases Applied Digital (NASDAQ:APLD) Price Target to $83.00

Posted by Patrick Bannon on Jun 9th, 2026

Applied Digital (NASDAQ:APLD – Get Free Report) had its price objective upped by equities research analysts at Needham & Company LLC from $66.00 to $83.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 102.74% from the company’s current price.

APLD has been the topic of a number of other reports. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Lucid Cap Mkts raised shares of Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. B. Riley Financial reissued a “buy” rating and issued a $66.00 price target (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Compass Point reissued a “buy” rating and issued a $70.00 price target on shares of Applied Digital in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $61.00.

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Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $40.94 on Tuesday. The company’s 50-day moving average is $36.49 and its 200 day moving average is $32.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $11.70 billion, a P/E ratio of -55.32 and a beta of 5.69. Applied Digital has a fifty-two week low of $9.02 and a fifty-two week high of $50.72.

Applied Digital (NASDAQ:APLD – Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). The company had revenue of $108.55 million during the quarter, compared to analysts’ expectations of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.Applied Digital’s quarterly revenue was up 139.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. On average, equities research analysts forecast that Applied Digital will post -0.68 earnings per share for the current year.

Insider Activity at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction dated 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 directly owned 184,859 shares in the company, valued at approximately $6,466,367.82. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were 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 in the company, valued at $7,207,795.02. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 35,000 shares of company stock worth $1,182,175. 9.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in shares of Applied Digital by 126.1% in the first quarter. Parallel Advisors LLC now owns 2,614 shares of the company’s stock worth $62,000 after purchasing an additional 1,458 shares during the last quarter. Vestor Capital LLC bought a new position in shares of Applied Digital in the first quarter worth approximately $98,000. Western Wealth Management LLC bought a new position in shares of Applied Digital in the first quarter worth approximately $87,000. Janus Henderson Group PLC grew its holdings in shares of Applied Digital by 318.5% in the first quarter. Janus Henderson Group PLC now owns 785,152 shares of the company’s stock worth $18,638,000 after purchasing an additional 597,548 shares during the last quarter. Finally, Amundi grew its holdings in shares of Applied Digital by 61.8% in the first quarter. Amundi now owns 31,327 shares of the company’s stock worth $744,000 after purchasing an additional 11,968 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

Key Stories Impacting Applied Digital

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

Positive Sentiment: Applied Digital secured a 15-year, 210 MW lease with a U.S. hyperscaler, adding roughly $5.2 billion in expected revenue and bringing total contracted lease revenue to about $36 billion across five campuses. Reuters: Applied Digital signs $5.2 billion AI data center lease with U.S. hyperscaler
Positive Sentiment: The deal increases confidence that Applied Digital can scale its AI data center platform, with about 70% of contracted revenue now backed by investment-grade hyperscalers. Yahoo Finance: Applied Digital Signs 210 MW Lease at Delta Forge 2
Positive Sentiment: Applied Digital also secured a revolving credit facility of up to $550 million, including committed capacity from Goldman Sachs, which gives it more flexibility to fund strategic growth. GlobeNewswire: Applied Digital Secures Revolving Credit Facility
Neutral Sentiment: Analyst commentary remains supportive, with Needham reiterating a Buy rating and a $66 price target, citing stronger multi-year visibility. Yahoo Finance: Needham Thinks About Applied Digital

Applied Digital Company Profile

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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.