Applied Digital (NASDAQ:APLD) Issues Earnings Results

Applied Digital (NASDAQ:APLD) released its quarterly earnings data on Wednesday. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29), Zacks reports. The business had revenue of $43.70 million during the quarter, compared to analyst estimates of $42.70 million. Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. During the same period in the prior year, the firm earned ($0.07) EPS.

Applied Digital Price Performance

Applied Digital stock traded down $0.14 during midday trading on Friday, hitting $3.68. The company’s stock had a trading volume of 706,621 shares, compared to its average volume of 4,353,388. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90. Applied Digital has a 12 month low of $2.36 and a 12 month high of $8.65. The stock’s 50-day moving average price is $5.11 and its 200-day moving average price is $4.36. The company has a market capitalization of $504.93 million, a PE ratio of -4.56 and a beta of 4.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APLD. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Applied Digital in a report on Thursday. B. Riley boosted their price target on shares of Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, June 28th. Roth Mkm reduced their price target on shares of Applied Digital from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Applied Digital in a report on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $8.20.

Applied Digital Company Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.