Quick Highlights:
- Applied Digital reported a Q3 non-GAAP EPS of -$0.08, beating estimates by $0.02.
- The company's revenue grew 22.2% year-over-year to $52.92 million, yet missed projections by nearly $10 million.
- Analysts suggest a potential 131.74% upside with an average price target of $12.44.
Applied Digital (APLD, Financial) has released its Q3 financial performance, showcasing a mixed bag of results. Although the company managed to surpass earnings predictions, registering a non-GAAP EPS of -$0.08, its revenue of $52.92 million—while marking a 22.2% year-over-year increase—fell short of expectations by $9.99 million. Notably, the adjusted EBITDA was reported at $10 million, highlighting certain operational strengths amidst financial challenges.
Wall Street Analysts Forecast
In the eyes of 9 seasoned analysts, Applied Digital Corp's (APLD, Financial) stock holds an average price target of $12.44, ranging from a high of $20.00 to a low of $9.00. From its current trading price of $5.37, this average target suggests a significant upside potential of 131.74%. For further insights, investors can access more comprehensive forecasts on the Applied Digital Corp (APLD) Forecast page.
When considering the consensus from 9 brokerage firms, Applied Digital Corp's (APLD, Financial) average brokerage recommendation is rated at 1.9, classified as "Outperform." The evaluation scale ranges from 1, representing a Strong Buy, to 5, indicating a Sell. This positive outlook reflects the market’s confidence in Applied Digital's future performance.
Moreover, according to GuruFocus estimates, the projected GF Value for Applied Digital Corp (APLD, Financial) in the coming year stands at $13.69. This estimate implies an impressive potential upside of 154.93% from the current price of $5.37. GF Value is calculated by examining the historical multiples at which the stock has been traded, along with past business growth and future performance projections. Investors are encouraged to delve into more detailed data available on the Applied Digital Corp (APLD) Summary page to make well-informed decisions.
