Streetbeat News

APLD

Applied Digital Corporation

https://www.applieddigital.com

Industry

Financial - Capital Markets

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the performance computing industry. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation was incorporated in 2001 and is based in Dallas, Texas.

Open

7.01

Mkt cap

1.6B

Volume

22M

High

7.57

P/E Ratio

-5.88

52-wk high

9.48

Low

6.90

Div yield

N/A

52-wk low

2.36

Applied Digital announced the upsize and pricing of its $375 million 2.75% Convertible Senior Notes due 2030, with a 32.5% conversion premium. The company also initiated share repurchase programs totaling approximately $84 million. The offering is expected to close on November 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 10:08 am

Needham analyst John Todaro has reiterated a Buy rating on Applied Digital (NASDAQ:APLD) and maintained a price target of $11.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 10:44 am

HC Wainwright & Co. analyst Kevin Dede maintains a Buy rating on Applied Digital and raises the price target from $5 to $10.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 10:18 am

Applied Digital (NASDAQ:APLD) has seen unusual options activity, with a majority of investors showing a bullish sentiment. The options activity suggests a price range of $7.0 to $8.0, with significant call and put trades. Analysts maintain a Buy rating with target prices ranging from $9 to $12.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 8:16 pm

In the past three months, 10 analysts have rated Applied Digital (NASDAQ:APLD), with a majority being bullish. The average 12-month price target has increased by 6.38% to $10.0. Analysts have adjusted their ratings and price targets, reflecting positive sentiment. Despite strong revenue growth, the company faces challenges with profitability and debt management.

Portfolio Pulse from Benzinga Insights

October 10, 2024 | 8:01 pm

Lake Street analyst Rob Brown maintains a Buy rating on Applied Digital (NASDAQ:APLD) and raises the price target from $7 to $11.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 4:27 pm

Roth MKM analyst Darren Aftahi has reiterated a Buy rating on Applied Digital (NASDAQ:APLD) and maintained a price target of $10.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:42 pm

Craig-Hallum analyst George Sutton has maintained a Buy rating on Applied Digital (NASDAQ:APLD) and increased the price target from $10 to $12.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:47 pm

Needham analyst John Todaro has reiterated a Buy rating on Applied Digital (NASDAQ:APLD) and maintained a price target of $11.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 11:29 am

Applied Digital Corp (NASDAQ:APLD) reported better-than-expected Q1 results with a loss of 15 cents per share and revenue of $60.7 million. The company highlighted a $160 million private placement involving Nvidia, boosting its balance sheet. Despite positive results, shares dipped 5.73% during regular trading but rose 3.66% after-hours.

Portfolio Pulse from Erica Kollmann

October 09, 2024 | 8:38 pm

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