Applied Digital Corp. (NASDAQ: APLD) is making headlines again as its stock gains momentum following a major industry deal and a wave of bullish analyst updates. Shares of Applied Digital recently climbed nearly 18%, fueled by news of a 15-year, $7 billion lease agreement with CoreWeave, a fast-growing cloud infrastructure provider focused on AI workloads.
This landmark agreement positions Applied Digital as a key player in the high-performance computing space. The deal includes potential capacity expansions, signaling long-term revenue growth opportunities. Analysts across the board responded positively, revising their forecasts and boosting price targets.
B. Riley Securities raised its price target to $15, citing the “transformational potential” of the CoreWeave deal. Craig-Hallum and H.C. Wainwright followed suit, both increasing their targets to $12 and highlighting the long-term revenue upside and investor confidence. Citizens JMP went even further, assigning an $18 price target and noting Applied’s central role in a 400MW data center facility under development in North Dakota.
In a separate report this week, Roth Capital forecasted that Applied Digital could deliver $0.98 in EPS for FY2028, a sharp reversal from its current full-year consensus loss of ($0.96) per share. This outlook underscores the rapid financial turnaround expected by analysts amid the company’s aggressive expansion into AI data infrastructure.
Despite recent earnings showing a miss—with a Q1 net loss of $0.16 per share and revenue of $52.9 million—Wall Street remains optimistic. Applied Digital is still navigating short-term volatility, but its long-term growth thesis is being validated by strategic partnerships and rising demand in the AI sector.
At present, Applied Digital stock is trading around $10.25, with a 52-week range of $3.01 to $12.48. The company boasts a market cap of $2.3 billion and has attracted increasing interest from institutional investors, who now hold over 65% of the stock.
As AI and high-performance computing become central to enterprise and cloud infrastructure, Applied Digital’s positioning and partnerships are propelling it into the spotlight. With multiple analysts maintaining Buy or Strong Buy ratings and an average consensus price target of $11.91, APLD stock could continue its upward trajectory in the coming months.