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's stock trades lower following the announcement of disappointing Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:08 am

NextPlat Corp (NASDAQ:NXPL) shares surged approximately 30% in pre-market trading after announcing a 222% year-over-year increase in consolidated 2023 revenues, reaching $37.8 million. Other stocks also showed significant movement in pre-market trading, with notable gainers including Allarity Therapeutics, PaxMedica, OncoCyte Corporation, and Zapata Computing Holdings, among others. Conversely, several stocks experienced declines, such as Motus GI Holdings, Rent the Runway, and Kazia Therapeutics, driven by various company-specific news and market reactions.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 9:32 am

In Thursday's after-market session, several information technology stocks saw significant movements. AMTD Digital (HKD) led the gainers with a 26.5% increase, while Applied Digital (APLD) experienced the largest drop among the losers, declining by 10.1%. Other notable movers included Banzai International (BNZI), Prairie Operating (PROP), and EMCORE (EMKR) on the gainers' side, and OMNIQ (OMQS), Gryphon Digital Mining (GRYP), and Taoping (TAOP) among the losers.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:31 pm

Applied Digital's stock price declined following the announcement of disappointing Q3 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:10 pm

Applied Digital (NASDAQ:APLD) reported Q3 earnings with a loss of $(0.24) per share, missing the $(0.10) estimate, and sales of $43.35M, missing the $51.92M estimate. This represents a significant decrease in earnings and an increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:06 pm

Earnings reports for April 11, 2024, include a mix of expected quarterly losses and gains across various sectors. Notable companies like Fastenal, CarMax, and Constellation Brands are anticipated to report earnings, with some like Kore Group Holdings and Conn's expected to report losses. The diversity in performance highlights sector-specific trends and potential market impacts.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 10:14 am

Roblox Corporation (RBLX) shares rose 2.6% following efforts to boost advertising sales. Other stocks like Dogness (DOGZ), Murano Global Investments (MRNO), and Aurora Cannabis (ACB) also saw significant gains. TAL Education Group (TAL) and others are expected to release financial results soon, contributing to their stock movements.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 2:56 pm

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.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 12:03 pm

Applied Digital (NASDAQ:APLD) received 4 analyst ratings in the last three months, all bullish, with a current average price target of $13.25, down 8.62% from the previous $14.50. Analysts from B. Riley Securities and Needham adjusted their price targets, reflecting changes in market conditions and company performance. Applied Digital's financials show a 242.0% revenue growth rate as of November 30, 2023, but a net margin of -24.95% and a debt-to-equity ratio of 1.18, indicating challenges in profitability and a balanced debt management approach.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 6:00 pm

B. Riley Securities analyst Lucas Pipes maintains a Buy rating on Applied Digital (NASDAQ:APLD) but lowers the price target from $10 to $8.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 5:50 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.