On August 4, APPLIED DIGITAL CORP rose 5.32% in regular trading, trading at $31.10/share, with turnover of $2.22 billion.
On the news front, B. Riley raised its price target on the company from $66 to $75, maintaining a buy rating, with the analyst consensus mean target at $74.12. Simultaneously, the AI infrastructure sector continued to strengthen, with peer CoreWeave gaining 6.32% on the day, reflecting significant sector linkage effects.
The move builds on strong fundamental momentum following the company's Q4 earnings that significantly exceeded expectations. Adjusted EPS came in at $0.04, far surpassing the consensus estimate of -$0.22, while fiscal year revenue reached $611.3 million, representing 167% year-over-year growth. The company also completed a $2.15 billion senior secured notes private offering and secured a $550 million revolving credit facility. Additionally, MDU Resources signed a power supply agreement for the company's planned North Dakota AI factory, which will require 430 megawatts at full capacity.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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