Applied Digital (APLD) Projected to Post Quarterly Earnings on Monday

Applied Digital (NASDAQ:APLD - Get Free Report) is expected to announce its earnings results after the market closes on Monday, April 14th. Analysts expect the company to announce earnings of ($0.11) per share and revenue of $62.91 million for the quarter. Investors interested in listening to the company's conference call can do so using this link.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business had revenue of $63.87 million for the quarter, compared to analysts' expectations of $62.41 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The firm's revenue for the quarter was up 51.3% compared to the same quarter last year. On average, analysts expect Applied Digital to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Applied Digital Stock Up 6.9 %

Applied Digital stock traded up $0.34 during mid-day trading on Monday, hitting $5.26. The company had a trading volume of 30,998,612 shares, compared to its average volume of 26,444,547. The stock's 50 day moving average price is $7.40 and its two-hundred day moving average price is $8.00. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.17 billion, a PE ratio of -3.04 and a beta of 5.18. Applied Digital has a 12 month low of $2.36 and a 12 month high of $12.48.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Northland Securities increased their target price on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Applied Digital in a research report on Monday, February 24th. Compass Point began coverage on shares of Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price for the company. HC Wainwright upped their target price on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald lowered their price objective on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $12.11.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $177,000.00. Following the transaction, the director now directly owns 342,923 shares of the company's stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.81% of the stock is currently owned by insiders.

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.