Why Applied Digital’s Stock is Climbing Higher

Applied Digital Corporation ( (APLD) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.

Applied Digital Corporation’s stock is on the rise following its announcement of a substantial 15-year, $7 billion lease agreement with CoreWeave. This deal has led several analysts to raise their price targets for the company. B. Riley increased its target to $15, citing the potential for further growth due to CoreWeave’s options for additional capacity, positioning Applied as a key player in high-performance compute infrastructure. H.C. Wainwright and Craig-Hallum raised their targets to $12, noting the transformative impact on revenue projections and strong institutional support. Citizens JMP set its target at $18, highlighting the significance of Applied’s role in the 400 MW facility in North Dakota, which is expected to maintain positive stock momentum. These developments underscore strong market confidence in Applied Digital’s growth potential amid rising AI sector demand.

More about Applied Digital Corporation

YTD Price Performance: 31.41%

Average Trading Volume: 36,745,112

Technical Sentiment Signal: Strong Buy

Current Market Cap: $2.28B

For further insights into APLD stock on TipRanks’ Stock Analysis page.

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