On August 27, APPLIED DIGITAL CORP rose 5.06% in regular trading, trading at 28.345 USD/share, with turnover of $139 million.
On the news front, the Internet Services and Infrastructure sector rallied broadly, with peers Cloudflare up 6.54%, Snowflake up 5.56%, and CoreWeave up 1.97%, reflecting significant sector linkage. B. Riley recently raised its price target from $66 to $75 while maintaining a Buy rating, with the average analyst target price at approximately $74.
The upward momentum follows strong fiscal Q4 results reported in late July, where adjusted EPS came in at $0.04 versus the consensus estimate of -$0.22, representing a significant beat. Full-year revenue reached $6.113 billion, up 167% year-over-year. The company also completed a $2.15 billion senior secured notes offering and secured a revolving credit facility of up to $550 million, strengthening its financial position as it scales AI data center infrastructure.
APPLIED DIGITAL CORP designs, builds, and operates next-generation digital infrastructure, providing data center solutions for high-performance computing and artificial intelligence industries.
(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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