Brokerages Set Applied Digital Corporation (NASDAQ:APLD) Price Target at $70.56

Applied Digital Corporation (NASDAQ:APLD) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, twelve have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $67.15.

Several brokerages have weighed in on APLD. Zacks Research downgraded Applied Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Citigroup reissued a “market outperform” rating on shares of Applied Digital in a research note on Tuesday, June 9th. Northland Securities set a $82.00 price target on Applied Digital and gave the company an “outperform” rating in a report on Wednesday, June 17th. Needham & Company LLC lifted their price objective on shares of Applied Digital from $66.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Lake Street Capital upped their price objective on shares of Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th.

Insider Activity at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the sale, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APLD. Cannon Capital Management Inc. bought a new stake in shares of Applied Digital in the 4th quarter worth $3,635,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Applied Digital during the 4th quarter worth $2,674,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Applied Digital during the 4th quarter worth $1,284,000. M&T Bank Corp acquired a new position in shares of Applied Digital in the 4th quarter worth $2,232,000. Finally, TFR Capital LLC. acquired a new position in shares of Applied Digital in the 4th quarter worth $1,741,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Stock Performance

Shares of NASDAQ APLD opened at $27.19 on Wednesday. Applied Digital has a 12-month low of $9.79 and a 12-month high of $50.72. The company has a market cap of $7.77 billion, a PE ratio of -36.74 and a beta of 5.67. The stock has a 50 day simple moving average of $38.80 and a 200-day simple moving average of $34.57. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65.

Key Stories Impacting Applied Digital

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Several recent articles highlight Applied Digital’s growing appeal as an AI infrastructure play, with analysts pointing to long-term, contracted revenue from its data center assets and saying the stock could have substantial upside heading into earnings. Applied Digital Could Have 155% Upside Ahead of July 27 Q2 Earnings
• Positive Sentiment: Morgan Stanley’s broader view that bitcoin miners and adjacent companies with large, grid-connected power assets could benefit from surging AI data center demand may also support sentiment around Applied Digital’s asset base. Morgan Stanley sees AI data center pivot unlocking upside for bitcoin miners
• Neutral Sentiment: Investors are waiting for Applied Digital’s Q4 earnings, with previews suggesting the company may show strong AI infrastructure growth, but results could be mixed if profitability remains weak. Applied Digital Q4 2026 earnings preview: mixed results anticipated
• Neutral Sentiment: Applied Digital also appeared in a short-interest update showing no reported short interest, which does not provide a meaningful bearish signal but does indicate limited recent short positioning data.
• Negative Sentiment: Some coverage is cautioning that Applied Digital remains a cash-burning stock and that its valuation looks expensive after a strong multi-year run, which could weigh on the shares if earnings do not strongly confirm the growth story. 3 Cash-Burning Stocks We Approach with Caution
• Negative Sentiment: Another article said Applied Digital looks expensive based on value checks after its huge five-year gain, suggesting investors may be demanding more evidence of earnings power before bidding the stock higher. Applied Digital (APLD) Stock Looks Expensive After A 314% Return And Weak Value Checks

About Applied Digital

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.