Applied Digital (APLD) Expected to Announce Earnings on Monday

Applied Digital (NASDAQ:APLD) will likely be issuing its quarterly earnings data 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. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm 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 company earned ($0.05) EPS. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. 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 Trading Down 13.1 %

APLD opened at $4.92 on Monday. Applied Digital has a twelve month low of $2.36 and a twelve month high of $12.48. The company has a fifty day moving average of $7.40 and a 200-day moving average of $8.00. The stock has a market cap of $1.10 billion, a PE ratio of -2.84 and a beta of 5.18. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Cantor Fitzgerald lowered their price objective on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a report on Monday, February 24th. Northland Securities increased their price target on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Compass Point began coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price objective for the company. Finally, HC Wainwright boosted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $12.11.

Insider Buying and Selling

In related news, Director Richard N. Nottenburg sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $177,000.00. Following the sale, the director now owns 342,923 shares in the company, valued at $3,034,868.55. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.81% of the stock is owned by company insiders.

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.