<div id="readability-page-1"><p><span>Applied Digital (NASDAQ:APLD - Get Free Report)</span> had its price target increased by B. Riley from $6.00 to $8.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a &#34;buy&#34; rating on the stock. B. Riley's price objective would indicate a potential upside of 33.11% from the stock's current price.</p><div><p><span></span><span>Get <strong>Applied Digital</strong> alerts:</span></p></div><ul><li>Is Applied Digital’s 35% stock plunge an AI buying opportunity?</li></ul><p>A number of other equities research analysts also recently commented on APLD. Lake Street Capital reduced their target price on Applied Digital from $19.00 to $7.00 and set a &#34;buy&#34; rating for the company in a report on Friday, April 12th. Roth Mkm increased their target price on shares of Applied Digital from $8.00 to $11.00 and gave the company a &#34;buy&#34; rating in a report on Monday. Needham &amp; Company LLC reissued a &#34;buy&#34; rating and set a $11.00 price target on shares of Applied Digital in a research note on Friday, June 14th. Finally, HC Wainwright reaffirmed a &#34;buy&#34; rating and set a $5.00 price objective on shares of Applied Digital in a report on Wednesday, June 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of &#34;Buy&#34; and an average target price of $8.40.</p><p><b>View Our Latest Stock Report on Applied Digital</b></p><h2>Applied Digital Stock Down 3.7 %</h2><p>APLD traded down $0.23 on Friday, reaching $6.01. The company's stock had a trading volume of 2,436,620 shares, compared to its average volume of 4,119,696. The company has a market capitalization of $824.63 million, a price-to-earnings ratio of -7.61 and a beta of 4.38. 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 fifty-two week low of $2.36 and a fifty-two week high of $11.07. The stock has a 50 day moving average of $4.12 and a two-hundred day moving average of $4.73. </p><p>Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Thursday, April 11th. The company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.40). Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. The business had revenue of $43.35 million for the quarter, compared to analyst estimates of $50.36 million. As a group, analysts forecast that Applied Digital will post -1.03 EPS for the current fiscal year. </p><h2>Hedge Funds Weigh In On Applied Digital</h2><p>Large investors have recently modified their holdings of the company. Arizona State Retirement System raised its holdings in Applied Digital by 17.1% in the fourth quarter. Arizona State Retirement System now owns 20,801 shares of the company's stock valued at $140,000 after buying an additional 3,038 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Applied Digital by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company's stock valued at $103,000 after acquiring an additional 3,182 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Applied Digital by 380.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,017 shares of the company's stock valued at $54,000 after purchasing an additional 6,347 shares in the last quarter. Swiss National Bank raised its position in Applied Digital by 6.9% in the fourth quarter. Swiss National Bank now owns 146,600 shares of the company's stock valued at $988,000 after purchasing an additional 9,500 shares during the period. Finally, Barclays PLC boosted its position in shares of Applied Digital by 73.6% in the third quarter. Barclays PLC now owns 23,588 shares of the company's stock worth $146,000 after buying an additional 10,002 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors. </p><h2>About Applied Digital</h2> (Get Free Report)<p>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.</p><h2>Read More</h2><ul><li>Five stocks we like better than Applied Digital</li><li>What Are Dividend Champions? How to Invest in the Champions</li><li>Salesforce Stock: Meeting Recap, AI Focus, and Forecast</li><li>How is Compound Interest Calculated?</li><li>Is CAVA Overextended? A Closer Look at This High-Flying Stock</li><li>Stock Trading Terms - Stock Terms Every Investor Needs to Know</li><li>Nike Stock Falls to Bargain Basement After Analysts Slash Targets</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9QVBMRA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" height="385" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9QVBMRA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. 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APLD

<p>Applied Digital (NASDAQ:APLD) had its price target raised by B. Riley from $6.00 to $8.00 and received a "buy" rating. The stock has an average rating of "Buy" with a target price of $8.40. Applied Digital's stock traded down 3.7% on Friday, reaching $6.01. The company reported negative earnings per share for the quarter and has a market capitalization of $824.63 million. Hedge funds and institutional investors own 65.67% of the stock.</p>

Applied Digital (NASDAQ:APLD) Price Target Raised to $8.00 at B. Riley