Applied Digital (NASDAQ:APLD) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Applied Digital (NASDAQ:APLD - Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05), Zacks reports. The business had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same period in the prior year, the business earned ($0.24) earnings per share.

Applied Digital Stock Performance

Applied Digital stock traded down $0.14 during trading hours on Friday, hitting $3.94. The company had a trading volume of 36,300,379 shares, compared to its average volume of 28,302,324. Applied Digital has a one year low of $2.36 and a one year high of $12.48. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $878.24 million, a PE ratio of -2.28 and a beta of 5.18. The firm has a 50-day moving average of $6.86 and a 200 day moving average of $7.81.

Analyst Ratings Changes

A number of brokerages have weighed in on APLD. Northland Securities boosted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Compass Point started coverage on shares of Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective for the company. HC Wainwright lowered their price target on Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday. Cantor Fitzgerald dropped their price objective on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Needham & Company LLC dropped their target price on Applied Digital from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $10.67.

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.