Applied Digital Stock Up 3% After Earnings Reassessment
Why it matters: Applied Digital's stock rose nearly 3% after its Q3 fiscal 2026 sales increased 139% year-over-year.
- Applied Digital (APLD) stock gained nearly 3% on Friday, recovering from a Thursday decline despite reporting a 139% year-over-year sales increase and a profitable Q3 fiscal 2026.
- H.C. Wainwright analyst Kevin Dede reiterated a buy recommendation and a $40 per share price target for APLD, praising its transformation into a next-generation AI data center operator.
- Applied Digital's strategic shift from cryptocurrency mining to AI data centers is noted as more advanced than some peers, a trend also observed with CoreWeave which recently secured a significant AI cloud deal with Anthropic, according to Motley Fool.
Applied Digital (APLD) stock surged nearly 3% after investors reassessed its Q3 fiscal 2026 earnings, which saw a 139% sales increase and a bottom-line flip to profit, despite an initial Thursday sell-off. H.C. Wainwright analyst Kevin Dede reiterated a buy rating and $40 price target, highlighting APLD's successful transition from crypto mining to AI data centers, a strategic shift also seen in other companies like CoreWeave, which recently secured a multi-year AI cloud deal.
