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Applied Digital Corporation (APLD) Stock Sinks As Market Gains: Here's Why
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In the latest market close, Applied Digital Corporation (APLD - Free Report) reached $4.33, with a -1.37% movement compared to the previous day. This change lagged the S&P 500's 2.11% gain on the day. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 2.96%.
Coming into today, shares of the company had lost 8.16% in the past month. In that same time, the Finance sector gained 3.61%, while the S&P 500 gained 3.08%.
The investment community will be paying close attention to the earnings performance of Applied Digital Corporation in its upcoming release. The company is forecasted to report an EPS of -$0.06, showcasing a 25% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $63.84 million, showing a 353.09% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.32 per share and revenue of $236.66 million, which would represent changes of +34.69% and +327.24%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Applied Digital Corporation. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 48.28% decrease. Right now, Applied Digital Corporation possesses a Zacks Rank of #5 (Strong Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 Zacks.com.
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Applied Digital Corporation (APLD) Stock Sinks As Market Gains: Here's Why
In the latest market close, Applied Digital Corporation (APLD - Free Report) reached $4.33, with a -1.37% movement compared to the previous day. This change lagged the S&P 500's 2.11% gain on the day. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 2.96%.
Coming into today, shares of the company had lost 8.16% in the past month. In that same time, the Finance sector gained 3.61%, while the S&P 500 gained 3.08%.
The investment community will be paying close attention to the earnings performance of Applied Digital Corporation in its upcoming release. The company is forecasted to report an EPS of -$0.06, showcasing a 25% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $63.84 million, showing a 353.09% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.32 per share and revenue of $236.66 million, which would represent changes of +34.69% and +327.24%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Applied Digital Corporation. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 48.28% decrease. Right now, Applied Digital Corporation possesses a Zacks Rank of #5 (Strong Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 Zacks.com.