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

7.81

Mkt cap

1.6B

Volume

8.5M

High

7.98

P/E Ratio

-6.15

52-wk high

9.48

Low

7.37

Div yield

N/A

52-wk low

2.36

Shares of companies in the technology sector are trading higher in anticipation of NVIDIA's earnings report. The sector has been gaining attention due to increased interest in AI this year.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:23 pm

Applied Digital has achieved 'Elite Partner' status in the NVIDIA Partner Network. This status is expected to provide Applied Digital with access to a range of benefits and resources that could enhance its business operations.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:04 pm

Applied Digital Corporation (NASDAQ:APLD) has announced a strategic partnership with ZEDEDA, an edge orchestration leader. The partnership will allow Applied Digital to use ZEDEDA's management and orchestration software solution for its new on-demand Transmutable AI cloud service. This service will enable customers to purchase and use GPU resources on-demand and at scale across all of Applied Digital's data centers. The service is expected to go live during the second half of 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:18 pm

Shares of software and IT stocks are trading lower following Fitch's downgrade of the US credit rating, which has negatively impacted risk sentiment.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:48 am

A report by The Friendly Bear Short Research suggests that B. Riley is controlling managerial decisions at Applied Digital, potentially to the detriment of Applied Digital shareholders. The report raises concerns about the independence of Applied Digital's board, potential conflicts of interest, and potential legal risks for both companies. It also suggests that B. Riley's influence on Applied Digital may be putting B. Riley's interests ahead of Applied Digital shareholders.

Portfolio Pulse from Happy Mohamed

July 28, 2023 | 2:31 pm

Needham analyst John Todaro has raised the price target on Applied Digital Corp (NASDAQ:APLD) to $17.5 from $16 with a Buy rating. This follows APLD's better-than-expected FY24 guidance after its Q4 FY23 earnings results. The company reported Q4 FY23 revenue of $22 million, up 193% Y/Y, but missed the consensus of $29.57 million. For FY 2024, APLD expects revenue within $385 million – $405 million and adjusted EBITDA of $195 million – $205 million. Todaro believes APLD can deliver on its first and second Character AI contracts earlier than expected.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 7:14 pm

During Tuesday's intraday session, several information technology stocks experienced significant movements. Gainers included Inpixon (INPX), Rigetti Computing (RGTI), Pagaya Techs (PGY), Applied Digital (APLD), IDEX Biometrics (IDBA), and AEye (LIDR). Losers included Rimini Street (RMNI), Ondas Holdings (ONDS), SoundHound AI (SOUN), Cemtrex (CETXP), VIA optronics (VIAO), and ICZOOM Group (IZM).

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 5:30 pm

The article lists the stocks that gained and lost the most in Tuesday's mid-day session. Among the gainers, Aurora Acquisition Corp. (AURC) jumped 192% to $30.54, Inpixon (INPX) gained 117% to $0.33 after agreeing to merge with XTI Aircraft Company, and Electra Battery Materials Corporation (ELBM) shot up 71.5% to $2.11 after extending and expanding its battery grade cobalt supply agreement with LG Energy Solution. Among the losers, Humanigen, Inc. (HGEN) fell 75.1% to $0.0476 as it anticipates not being able to continue as a going concern and is exploring all restructuring options, including bankruptcy, and Alaska Air Group, Inc. (ALK) fell 9.3% to $48.38 after reporting Q2 financial results and issuing Q3 and FY23 guidance.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 5:11 pm

Needham has maintained a Buy rating on Applied Digital's stock and raised its price target from $16 to $17.5, leading to a rise in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 4:29 pm

Several US stocks traded higher on Tuesday, with notable gains recorded by Kiniksa Pharmaceuticals, American National Bankshares, Genelux Corporation, Shengfeng Development, Markforged Holding Corporation, Upstart Holdings, Anywhere Real Estate, Logitech International, Packaging Corporation of America, Xerox Holdings Corporation, Applied Digital Corporation, F5, and Compass. These gains were largely driven by strong quarterly results and positive analyst ratings.

Portfolio Pulse from Lisa Levin

July 25, 2023 | 2:22 pm

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