Back to top

Image: Bigstock

Applied Digital Corporation (APLD) Stock Moves -0.76%: What You Should Know

Read MoreHide Full Article

Applied Digital Corporation (APLD - Free Report) closed at $5.20 in the latest trading session, marking a -0.76% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.82%.

Prior to today's trading, shares of the company had lost 22.71% over the past month. This has lagged the Finance sector's gain of 1.93% and the S&P 500's gain of 0.89% in that time.

Applied Digital Corporation will be looking to display strength as it nears its next earnings release. In that report, analysts expect Applied Digital Corporation to post earnings of -$0.02 per share. This would mark year-over-year growth of 60%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $40.16 million, up 480.35% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.27 per share and revenue of $352.73 million, which would represent changes of +155.1% and +763.38%, respectively, from the prior year.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 34.15% lower. 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 19.41 right now. For comparison, its industry has an average Forward P/E of 10.47, which means Applied Digital Corporation is trading at a premium to the group.

The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 167, 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.

To follow APLD in the coming trading sessions, be sure to utilize

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

Applied Digital Corporation (APLD) - free report >>

Published in