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APLD·Applied Digital Corporation

$15.43
+1.26 (+8.88%)
High
$15.85
Open
$15.53
Market Cap
4.28B
52W High
$50.73
Low
$13.90
P. Close
$15.43
P/E
-
52W Low
$13.12
Fwd P/E
-18.06
DailyIQ Est.
$69.15
Inst. Own.
51.3%
Short Interest
23.42%
Days to Cover
2.2
NewEarnings release, scored · filed Oct 7, 2026tone -2.9 vs prior release · 95 lines scoredSee the breakdown
Technical Score (1D)
13
BEARISH
News Sentiment
29
BEARISH
On Nov 6, no new developments were reported for Applied Digital Inc. (APLD). On Nov 5, APLD shares fell 18 % to a 52‑week low of $16.06, a decline that reflected heightened worries about financing and broader AI‑data‑center sell‑offs, according to the company’s CEO who warned that roughly 800 MW of capacity must be financed in the next year. The same day, the stock also dropped 15 % after the Texas governor‑elect announced a halt to new data‑center approvals, a move that amplified concerns over regulatory risk and the firm’s $6.4 billion debt load. Earlier on Nov 5, APLD shares fell 17 % amid a broader selloff in the AI‑chip sector, a reaction that mirrored declines in other data‑center focused stocks and underscored worries about slower U.S. data‑center construction and tighter AI regulations. Analysts noted that APLD’s guidance had already excluded China data‑center sales, indicating a cautious near‑term outlook. The combined reports highlighted that, despite strong revenue growth projections, the company’s valuation has become compressed due to financing challenges and regulatory uncertainty.
LOW TARGET
$22 +42.6%
1 analysts
MEAN TARGET
$61 +295.0%
13 analysts
HIGH TARGET
$93 +502.8%
12 analysts
PRICE RANGE
$22.00 - $93.00
SB / B / H / S / SS
4/18/2/1/1
DAILYIQ EST.
$69.15 (+348.2%)
Sector
Technology
Industry
Information Technology Services
Exchange
NMS
Country
United States
Website
applieddigital.com
Symbol
APLD
Description
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation has an lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. Applied Digital Corporation is based in Dallas, Texas.
Bought (1Y)
355,803 shares
$6.7M
Sold (1Y)
2,266,340 shares
$73.4M
MILLER DOUGLAS S-
Award/Grant14,450 shares2026-11-04
Benson Ella G.-
Award/Grant14,450 shares2026-11-04
HASTINGS CHUCK-
Award/Grant14,450 shares2026-11-04
Nottenburg Richard N-
Award/Grant14,450 shares2026-11-04
Lee Rachel H.-
Award/Grant14,450 shares2026-11-04
View full insider trading history →
57/ 100
Neutral / mixed
Overall: Neutral
✓Revenue growing year over year
✕Negative net margin
✓Positive operating cash flow
Gross Margin
35.1%
Net Margin
-24.4%
Current Ratio
4.01x
Debt / Equity
0.00x
Return on Equity
-8.7%
View full financials →
Earnings Summary
In Q1 2025 the company reported a revenue of $52.9 million, beating the negative EPS estimate by operating at a loss of $0.08 versus an expected loss of $0.10, while Q3 2026 revenue surged to $126.6 million, more than doubling the $78.5 million estimate and widening the loss to $0.36 against an expected $0.21; the trend shows accelerating top‑line growth but persistent negative earnings. Historically, Applied Digital has posted YoY revenue increases each quarter, with the most recent quarter (Q1 2027) generating $341.9 million, a significant jump from prior periods, yet EPS has trended deeper into loss territory, indicating that revenue growth has not yet translated into profitability. Recent news highlights insider buying activity in late October, with executives purchasing $6.7 million of shares, signaling management confidence amid a broader AI‑stock sell‑off; a brokerage firm also revised its price target downward to $51 from $75, reflecting a more cautious valuation stance. The company’s continued expansion of data center capacity and the integration of GPU services suggest that future earnings will hinge on cost control and the ability to convert high utilization into profitability.

EPS

EstBeatMiss
$-0.93$-0.69$-0.45$-0.21$0.03Q1'25Q3'26Q1'27Q2'27
QtrEstActual+/−
Q2'27$-0.34 - -
Q1'27$-0.31$-0.82-168.0%
Q3'26$-0.21$-0.36-71.4%
Q1'25$-0.10$-0.08+22.0%

Revenue

EstBeatMiss
$10M$103M$197M$291M$385MQ1'25Q3'26Q1'27Q2'27
QtrEstActual+/−
Q2'27$189M - -
Q1'27 - $342M -
Q3'26$78M$127M+61.4%
Q1'25 - $53M -
Full Earnings BreakdownEstimates, actuals, guidance, and historical context
→

Market Data

APLD Stock Snapshot

BEARISH13/100
$15.43+$1.26 (8.9%)
Market cap
4.28B
Day range
$13.90 – $15.85
News sentiment
29/100 · Bearish
Analyst target
$60.94 (+295.0%)
Consensus
Buy · 26 analysts
52-week range+17.6% off low · -69.6% from high
$13.12$50.73
Price $15.43 DailyIQ Est. $69.15

Price action on APLD is defensive - rallies are being sold rather than extended. Expect wider swings than the Technology average, simply as a function of float and coverage.

Sector Rotation

Is money rotating into or out of APLD's sector?

Applied Digital Corporation sits in the Software sector, currently ranked 11th of 12 GICS sectors by relative-strength rotation score (lagging).

Sector rank
#11 of 12
Sector state
Lagging
Sector rotation score
18

Options Market

What is the options market pricing for APLD?

CallsPuts

For Applied Digital Corporation's nearest expiry (2026-11-06, 0 days out), open interest is call-heavy, a bullish tilt (put/call ratio of 0.70), with at-the-money implied volatility around 53.1%.

Put/call ratio (2026-11-06)
0.70
ATM implied volatility
53.1%
Total open interest
55,746

Analyst Consensus Estimates

What do analysts expect APLD to earn?

Analysts expect Applied Digital Corporation to earn -$1.06 per share in the fiscal year ending May 2027 and -$1.55 in the fiscal year ending May 2029, from 3 estimates. These are analyst forecasts, not company guidance, and later years rest on fewer analysts.

Quarter endingEPS estimateEPS rangeEPS analystsRevenue estimateRevenue analysts
Nov 2026-$0.17-$0.19 to -$0.152$158M8
Feb 2027-$0.25-$0.37 to -$0.173$213M8
Aug 2027-$0.47-$0.63 to -$0.203--
Nov 2027-$0.47-$0.66 to -$0.233--
Fiscal year endingEPS estimateEPS rangeEPS analystsRevenue estimateRevenue analysts
May 2027-$1.06-$1.41 to -$0.683$978M11
May 2028-$0.78-$1.45 to -$0.265$1.97B10
May 2029-$1.55-$2.81 to -$0.853--

Analyst Rating Changes

Are analysts turning bullish or bearish on APLD?

B. Riley Securities most recently reiterated its rating on Applied Digital Corporation to Buy on Oct 30, 2026 with a price target of $51 (from $75). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.

Latest action
B. Riley Securities: Buy
90-day upgrades
0
90-day downgrades
0
Net rating momentum
0
DateFirmActionRatingPrice target
Oct 30, 2026B. Riley SecuritiesMaintainedBuy$75 → $51
Oct 12, 2026Morgan StanleyMaintainedEqual-Weight$38 → $41
Oct 8, 2026Wells FargoMaintainedOverweight$50 → $55
Oct 8, 2026Freedom Capital MarketsMaintainedBuy$48
Oct 8, 2026NeedhamMaintainedBuy$83 → $70
Sep 23, 2026UBSInitiatedBuy$38
Sep 21, 2026Rothschild & CoInitiatedNeutral$22
Sep 17, 2026Wells FargoInitiatedOverweight$50
Aug 6, 2026Morgan StanleyMaintainedEqual-Weight$37 → $38
Aug 3, 2026B. Riley SecuritiesMaintainedBuy$66 → $75
Jul 28, 2026NeedhamReiteratedBuy$83
Jul 23, 2026Morgan StanleyInitiatedEqual-Weight$37

Earnings Release, Scored

What did Applied Digital Corporation's latest earnings release say?

Filed Oct 7, 2026 · SEC Form 8-K, Exhibit 99

Tone55.6/ 100-2.9 vs prior release
Hedging words0.92per 100 words-1.23 vs prior release
Tone, last 2 releasesScale 50–70

Most important lines

  1. 1

    Interest expense increased $69.4 million, or 866%, from $8.0 million for the three months ended August 31, 2025, to $77.4 million for the three months ended August 31, 2026 due to an increase in debt arrangements between the periods.

  2. 2

    The Company expects initial operations at Polaris Forge 2 in Harwood to increase delivered critical IT load across our North Dakota campuses to 300 MW by the end of calendar 2026, further demonstrating the Company's ability to execute against its development pipeline.

    New this quarter
  3. 3

    The increase was primarily due to an increase in tenant fit-out services of approximately $157.2 million, as well as $23.0 million in GPU hardware sales related to ChronoScale.

    New this quarter

Scores describe the release's wording. They are not a forecast.

Read all 95 scored lines →

Peers & ETF holders

APLD peers & ETF holders

Information Technology ServicesMarket cap · today

Top ETF holdersWeight

News & sentiment

What is the news saying about APLD?

APLD fell 39.4% over the month to Nov 6. News tone held between 36 and 82 from Oct 6 to Oct 15, then dropped to 0 on Oct 16.

Daily close and news tone, Oct 6 to Nov 6
$15$20$25Oct 6: tone 72Oct 7: tone 56Oct 8: tone 60Oct 9: tone 80Oct 11: tone 82Oct 12: tone 59Oct 13: tone 36Oct 14: tone 55Oct 15: tone 74Oct 16: tone 0Oct 19: tone 62Oct 20: tone 16Oct 21: tone 72Oct 22: tone 50Oct 23: tone 58Oct 26Oct 27: tone 64Oct 28: tone 42Oct 29Oct 30: tone 46Nov 2: tone 46Nov 3: tone 57Nov 4: tone 54Nov 5: tone 36Nov 6: tone 50Oct 6News toneNov 6123
  1. Oct 14 -11.6%same day: Applied Digital Stock Is Up Against a Bigger Opportunity Than 322% Revenue Growth. Here’s How.
  2. Oct 16 -10.7%
  3. Nov 5 -14.7%same day: Applied Digital Sinks 15% as Data Center Rout Deepens: “Remain in Gridlock”
Latest stories naming Applied Digital

Technical analysis

How strong is APLD's momentum right now?

On the daily chart APLD ranks at the 13th percentile for momentum against 1,060 stocks and ETFs, a bearish reading.

Momentum rank by timeframe0 = weakest, 100 = strongest
See what drives the rankThe inputs behind each timeframe's momentum rank, plus RSI, stochastics, Bollinger Bands and moving averages. Free with an account.

Institutional ownership

Are big funds buying or selling APLD?

69 of the 137 tracked managers added to APLD in their latest 13F and 63 trimmed. Together they own 51.3% of the company, worth $5.2B. Situational Awareness and Vanguard Portfolio Management alone hold 10.4%.

69adding63trimming5unchanged
Largest holders by stake, latest 13FBar = share of APLD
  1. 1Situational Awareness LP5.50%
    $469.0M positionAdded 14.1% last quarter
  2. 2Vanguard Portfolio Management LLC4.91%
    $512.1M positionTrimmed 7.3% last quarter
  3. 3BlackRock, Inc.4.78%
    $498.9M positionTrimmed 36.0% last quarter
  4. 4Vanguard Capital Management LLC4.13%
    $431.0M positionAdded 7.2% last quarter
  5. 5Two Sigma Investments, LP3.68%
    $384.2M positionAdded 546.7% last quarter
  6. 6Goldman Sachs Group Inc2.50%
    $260.4M positionTrimmed 12.8% last quarter
  7. 7Geode Capital Management, LLC1.74%
    $221.7M positionTrimmed 23.9% last quarter
  8. 8State Street Corp1.60%
    $167.2M positionTrimmed 19.5% last quarter
  9. 9Mirae Asset Global ETFs Holdings Ltd. (Global X)1.26%
    $131.2M positionAdded 17.2% last quarter
  10. 10BNP Paribas Financial Markets1.17%
    $122.3M positionTrimmed 4.5% last quarter
Full holdings history

Discover more

How has APLD done against its peers?

Over the six months to Nov 6, APLD returned −64.9%. Of the 15 related stocks and ETFs, all did better, led by CRWD at +88.2%.

Change since May 6, through Nov 6
−100%0%+100%+200%May 6JunJulAugSepOctNov 6CRWD +88.2%APLD −64.9%