Applied Digital Gears Up For Q3 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | April 08, 2024 08:03am

Applied Digital Corporation (NASDAQ:APLD) is expected to release earnings results for its third quarter, before the opening bell on April 10, 2024.

Analysts expect the Dallas, Texas-based company to report a quarterly loss at 7 cents per share, versus a year-ago loss of 8 cents per share. Applied Digital is projected to report quarterly revenue of $51.92 million, according to data from Benzinga Pro.

Last month, Marathon Digital entered into a definitive purchase agreement to acquire Applied Digital's Bitcoin mining data center.

Applied Digital shares fell 8.9% to close at $2.98 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• B. Riley Securities analyst Lucas Pipes maintained a Buy rating and cut the price target from $10 to $8 on April 5, 2024. This analyst has an accuracy rate of 64%.
• Needham analyst John Todaro maintained a Buy rating and lowered the price target from $16 to $13 on March 18, 2024. This analyst has an accuracy rate of 81%.
• Lake Street analyst Rob Brown maintained a Buy rating and boosted the price target from $9 to $16 on July 17, 2023. This analyst has an accuracy rate of 78%.
• Craig-Hallum analyst George Sutton maintained a Buy rating and boosted the price target from $10 to $13 on May 17, 2023. This analyst has an accuracy rate of 65%.

 

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Posted In: APLD