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Applied Digital Corporation (APLD) Stock Sinks As Market Gains: What You Should Know
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Applied Digital Corporation (APLD - Free Report) closed at $5.87 in the latest trading session, marking a -1.68% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.73%, while the tech-heavy Nasdaq added 0.94%.
Heading into today, shares of the company had lost 40.12% over the past month, lagging the Finance sector's loss of 4.31% and the S&P 500's loss of 3.8% in that time.
Wall Street will be looking for positivity from Applied Digital Corporation as it approaches its next earnings report date. On that day, Applied Digital Corporation is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.05 million, up 507.6% from the year-ago period.
APLD's full-year Zacks Consensus Estimates are calling for earnings of $0.41 per share and revenue of $376.47 million. These results would represent year-over-year changes of +183.67% and +579.65%, respectively.
Any recent changes to analyst estimates for Applied Digital Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.65% higher. Applied Digital Corporation is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Applied Digital Corporation has a Forward P/E ratio of 14.56 right now. Its industry sports an average Forward P/E of 10.75, so we one might conclude that Applied Digital Corporation is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Sinks As Market Gains: What You Should Know
Applied Digital Corporation (APLD - Free Report) closed at $5.87 in the latest trading session, marking a -1.68% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.73%, while the tech-heavy Nasdaq added 0.94%.
Heading into today, shares of the company had lost 40.12% over the past month, lagging the Finance sector's loss of 4.31% and the S&P 500's loss of 3.8% in that time.
Wall Street will be looking for positivity from Applied Digital Corporation as it approaches its next earnings report date. On that day, Applied Digital Corporation is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.05 million, up 507.6% from the year-ago period.
APLD's full-year Zacks Consensus Estimates are calling for earnings of $0.41 per share and revenue of $376.47 million. These results would represent year-over-year changes of +183.67% and +579.65%, respectively.
Any recent changes to analyst estimates for Applied Digital Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.65% higher. Applied Digital Corporation is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Applied Digital Corporation has a Forward P/E ratio of 14.56 right now. Its industry sports an average Forward P/E of 10.75, so we one might conclude that Applied Digital Corporation is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.