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Applied Digital Corporation (APLD) Dips More Than Broader Market: What You Should Know
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The latest trading session saw Applied Digital Corporation (APLD - Free Report) ending at $3.27, denoting a -1.8% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.36%, and the tech-heavy Nasdaq lost 1.4%.
The company's shares have seen a decrease of 18.58% over the last month, not keeping up with the Finance sector's gain of 2.76% and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Applied Digital Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 10, 2024. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 37.5% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $53.83 million, showing a 282.04% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.45 per share and a revenue of $214.39 million, indicating changes of +8.16% and +287.04%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Applied Digital Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 39.54% lower. Currently, Applied Digital Corporation is carrying a Zacks Rank of #5 (Strong Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Applied Digital Corporation (APLD) Dips More Than Broader Market: What You Should Know
The latest trading session saw Applied Digital Corporation (APLD - Free Report) ending at $3.27, denoting a -1.8% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.36%, and the tech-heavy Nasdaq lost 1.4%.
The company's shares have seen a decrease of 18.58% over the last month, not keeping up with the Finance sector's gain of 2.76% and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Applied Digital Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 10, 2024. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 37.5% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $53.83 million, showing a 282.04% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.45 per share and a revenue of $214.39 million, indicating changes of +8.16% and +287.04%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Applied Digital Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 39.54% lower. Currently, Applied Digital Corporation is carrying a Zacks Rank of #5 (Strong Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.