Applied Digital Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Applied Digital Corporation (NASDAQ:APLD) is set to release its Q3 earnings before the market opens on April 10, 2024. Analysts predict a quarterly loss of 7 cents per share with revenue expected at $51.92 million. The company's shares dropped 8.9% to $2.98 following the announcement of a definitive purchase agreement with Marathon Digital for the acquisition of its Bitcoin mining data center. Analysts from B. Riley Securities, Needham, Lake Street, and Craig-Hallum have provided varied ratings and price targets for APLD.
April 08, 2024 | 12:03 pm
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Applied Digital is anticipated to report a Q3 loss of 7 cents per share with $51.92 million in revenue. The company's stock fell 8.9% after the acquisition announcement by Marathon Digital.
The expected quarterly loss and the recent acquisition by Marathon Digital, coupled with the significant drop in stock price, suggest a negative short-term impact. The analysts' adjustments in price targets also indicate market uncertainty.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100