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Applied Digital Corporation (APLD) Outpaces Stock Market Gains: What You Should Know
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Applied Digital Corporation (APLD - Free Report) closed at $7.53 in the latest trading session, marking a +0.8% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.39%.
Coming into today, shares of the company had lost 16.54% in the past month. In that same time, the Finance sector gained 2.79%, while the S&P 500 gained 3.16%.
Wall Street will be looking for positivity from Applied Digital Corporation as it approaches its next earnings report date. This is expected to be July 24, 2023. On that day, Applied Digital Corporation is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.01 million, up 193.4% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Applied Digital Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.75% lower. Applied Digital Corporation is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Applied Digital Corporation is holding a Forward P/E ratio of 20.01. This represents a premium compared to its industry's average Forward P/E of 10.01.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Applied Digital Corporation (APLD) Outpaces Stock Market Gains: What You Should Know
Applied Digital Corporation (APLD - Free Report) closed at $7.53 in the latest trading session, marking a +0.8% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.39%.
Coming into today, shares of the company had lost 16.54% in the past month. In that same time, the Finance sector gained 2.79%, while the S&P 500 gained 3.16%.
Wall Street will be looking for positivity from Applied Digital Corporation as it approaches its next earnings report date. This is expected to be July 24, 2023. On that day, Applied Digital Corporation is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.01 million, up 193.4% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Applied Digital Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.75% lower. Applied Digital Corporation is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Applied Digital Corporation is holding a Forward P/E ratio of 20.01. This represents a premium compared to its industry's average Forward P/E of 10.01.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.