In breaking news today, Applied Digital (OTCMKTS:APLD) has been given a boost thanks to the analysts at Northland Securities. The equity research team has issued a report stating that the target price for Applied Digital has increased from $5.00 to $11.00 – an increase of 120%. Furthermore, Northland Securities believes that there is a potential upside of 24.01% from the company’s current price.
Investors will be keen to take note of this report, which highlights Applied Digital’s potential for strong growth in the coming months and years. This positive news comes hot on the heels of Applied Digital’s recent earnings results announcement, which showed that the company beat consensus estimates by reporting ($0.01) earnings per share (EPS) for Q1 2023.
Applied Digital operates as a technology company, with specific expertise in data center development and operation. Its headquarters are based in Dallas, TX and it was founded back in May 2001. In terms of financial performance, Applied Digital had a negative net margin of 100.29% and a negative return on equity of 16.57%. However, with the latest news from Northland Securities pointing towards significant growth potential, investors will no doubt be keeping an eye on this stock in the coming weeks and months.
Industry insiders and analysts alike are predicting that Applied Digital could be one to watch for savvy investors looking to capitalize on technological advancements in data center technology and computing power as we move forward into the future.
Based on current projections from sell-side analysts, it is anticipated that Applied Digital will post -0.45 earnings per share for the current year. However, with such positive momentum behind the stock right now, it remains to be seen whether or not these predictions will hold true over time.
Overall, it’s clear that Applied Digital is attracting attention from those who are tracking emerging trends within the tech industry. With a solid track record of innovation and development in the data center space, as well as strong earnings results and bullish projections, it’s no wonder that Northland Securities sees a bright future for this dynamic company. Watch this space for further updates on Applied Digital as they continue to make strides within their field.
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Applied Digital Corp. Continues to Grow and Attract Investor Attention with Potential for Future Success
Applied Digital Corp. (APLD) has been the topic of several research and purchase reports in recent months, as more investors become aware of the technology company’s potential for growth and investment opportunities. Building on their previous reports, B. Riley raised their price target on shares of Applied Digital from $7.00 to $17.00 in a report released on May 19th, while Needham & Company LLC increased their price target from $3.70 to $5.50 earlier that month.
Shares of Applied Digital opened at $8.87 on Friday, demonstrating steady growth within the past year; the firm has a fifty-day simple moving average of $3.66 and a 200-day simple moving average of $2.78, indicating consistent upward momentum with relatively low volatility.
Applied Digital operates as a technology company specializing in data centers that provide computing power; it was founded in May 2001 and is headquartered in Dallas, TX. In February and April of this year, Director Chuck Hastings and CEO Wes Cummins respectively purchased a combined total of 35,000 shares of stock in Applied Digital at an average cost per share between $2.59 and $3.50.
Despite its potential for growth, individual investors are not the only ones taking notice of Applied Digital’s value; institutional investors such as SG Americas Securities LLC and Amalgamated Bank have modified their holdings recently by purchasing new positions or increasing existing ones during different quarters since last year.
As the world becomes increasingly reliant on digital technologies and remote data centers like those provided by Applied Digital, it appears that the company’s future – both for shareholders and for its role shaping the industry at large – is bright indeed.
