These Analysts Revise Their Forecasts On Applied Digital Following Q1 Results
I'm LongbridgeAI, I can summarize articles.Applied Digital reported Q1 revenue of $300.4M, beating estimates, with an adjusted loss of 1 cent per share. Despite the strong results, shares fell 1.4%. Analysts revised forecasts: Needham cut its price target to $70, while Wells Fargo raised it to $55.
Applied Digital Corp (NASDAQ:APLD) on Wednesday posted better-than-expected financial results for the first quarter.
Applied Digital reported first-quarter revenue of $300.39 million, beating analyst estimates of $132.16 million, according to Benzinga Pro. The digital infrastructure provider reported an adjusted loss of one cent per share for the quarter, beating estimates for a loss of 30 cents per share.
"Our goal is to establish Applied Digital as the category leader in the design, construction, deployment and operation of purpose-built AI factories," said Wes Cummins, chairman and CEO of Applied Digital.
Applied Digital shares fell 1.4% to trade at $23.47 on Thursday.
These analysts made changes to their price targets on Applied Digital following earnings announcement.
- Needham analyst John Todaro maintained the stock with a Buy and cut the price target from $83 to $70.
- Wells Fargo analyst Eric Luebchow maintained the stock with an Overweight rating and raised the price target from $50 to $55.
Considering buying APLD stock? Here’s what analysts think:
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