Applied Digital (APLD) Expected to Announce Earnings on Monday

Applied Digital (NASDAQ:APLD) is projected 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. Individual interested in registering for the company’s earnings conference call can do so using this link.

Applied Digital (NASDAQ:APLD) last released its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, topping 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 company had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. Applied Digital’s revenue 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 Performance

Shares of NASDAQ APLD opened at $5.29 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -3.06 and a beta of 5.18. Applied Digital has a 12 month low of $2.36 and a 12 month high of $12.48. The company has a 50 day simple moving average of $7.16 and a two-hundred day simple moving average of $7.92. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22.

Wall Street Analyst Weigh In

A number of research firms have recently commented on APLD. Compass Point assumed coverage on Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price on the stock. Cantor Fitzgerald cut their target price 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. HC Wainwright boosted their price target on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Northland Securities lifted 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a research note on Monday, February 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.11.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now directly owns 342,923 shares of the company’s stock, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.81% of the company’s stock.

About Applied Digital

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.