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 Corporation's (NASDAQ:APLD) shares are declining along with other tech stocks due to the weakness observed in Netflix and Tesla following their respective quarterly reports. Netflix reported mixed results with soft third quarter sales guidance. Tesla reported increased earnings and sales. Applied Digital is set to report fourth quarter earnings in four days, with an expected loss of four cents per share and revenue estimated at $29.57 million. APLD shares were down 8.21% at $7.71 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 20, 2023 | 7:54 pm

Tech stocks are trading lower due to weak quarterly reports from Netflix and Tesla. This has affected the overall tech sector.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 5:37 pm

Lake Street analyst Rob Brown maintains a 'Buy' rating on Applied Digital (NASDAQ:APLD) and has raised the price target from $9 to $16.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 3:28 pm

Applied Digital (APLD) has onboarded Character.AI as a customer for its AI cloud services. This partnership could potentially boost Applied Digital's revenues and market presence.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:04 pm

Needham & Co. analyst John Todaro has raised the price target for Applied Digital Corp (NASDAQ:APLD) to $16.00 from $8.50, maintaining a Buy rating. The analyst sees APLD's downside as limited due to its stable Bitcoin mining segment, which is expected to remain strong until mid-2024. The FY24 revenue estimate has been raised to $309.4 million due to a strong demand pipeline, as evidenced by new AI contracts. APLD shares are currently trading higher by 5.10% at $8.09.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 5:24 pm

Several analyst forecasts were released on Friday, with price target changes for Applied Digital Corporation, Cal-Maine Foods, General Motors Company, Ford Motor Company, Playtika Holding Corp., Curis, Inc., Costco Wholesale Corporation, Newmont Corporation, Kimbell Royalty Partners, LP, Levi Strauss & Co., and Meta Platforms, Inc. The changes ranged from increases to decreases, with various ratings maintained or upgraded.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 11:44 am

Needham analyst John Todaro maintains a Buy rating on Applied Digital (NASDAQ:APLD) and raises the price target from $8.5 to $16.

Portfolio Pulse from richadhand@benzinga.com

July 07, 2023 | 10:48 am

Applied Digital Corporation's shares are trading lower following short reports issued by Wolf Pack Research and The Bear Cave.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 7:40 pm

During Thursday's intraday session, several information technology stocks experienced significant movements. Gainers included Borqs Technologies (BRQS), DigitalOcean Holdings (DOCN), Verb Tech (VERB), and Rekor Systems (REKR). Losers included Applied Digital (APLD), Infobird Co (IFBD), SoundHound AI (SOUN), WaveDancer (WAVD), Minim (MINM), and SMX (Security Matters).

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:37 pm

Applied Digital (APLD) has responded to a short report issued earlier, stating that they 'strongly disagree' with the conclusions drawn in the report. The company claims that the report contains many inaccurate and misleading claims and that they were never contacted by the author of the report.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 4:49 pm

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