Northland Capital Reiterates Buy Rating on Applied Digital

Northland Capital Markets reiterated its buy rating on Applied Digital Corporation (NasdaqGS: APLD) on June 17, 2026. Analyst Mike Grondahl set a price target of $82, suggesting confidence in the company's future prospects.

Other Institutional Activity in Applied Digital

Hood River Capital Management LLC grew its holdings by 1,038,181 shares, ending with 23,075,612 shares worth about $547.8 million. BlackRock, Inc. added 55,899 shares, bringing its total to 20,896,101 shares valued at approximately $496.1 million. Vanguard Portfolio Management LLC acquired 14,807,795 shares, matching its resulting share count and valuing its stake at $351.5 million. Situational Awareness Partners LP and Situational Awareness LP both hold 13,478,438 shares, with the latter increasing its position by 2,139,378 shares, worth $319.98 million.

Applied Digital Corporation Stock Up 2.2%

Shares of Applied Digital Corporation (NasdaqGS: APLD) traded near $46.27. The company boasts a market cap of about $13.2 billion. Despite a negative forward P/E ratio of -47.95, indicating it isn't currently profitable, the stock has shown significant volatility with a 52-week range between $9.02 and $50.73. The stock's 50-day moving average is $38.78, while its 200-day moving average stands at $30.91. Applied Digital has a beta of 5.644, indicating high volatility compared to the market.

Recent Earnings

In recent results, Applied Digital reported revenue of $319.3 million, with a strong growth rate of 139.3%. However, the company posted a net margin of -59.5% and a return on equity of -5.6%, reflecting ongoing profitability challenges. The next earnings report is anticipated on July 29, 2026.

Insider Buying and Selling at Applied Digital Corporation

Recent insider activity includes several sales. On April 30, 2026, Richard Nottenburg sold 12,500 shares at $34.59 each. Two days earlier, he sold another 12,500 shares at $32.00. Douglas Miller sold 10,000 shares on April 27, 2026, at $34.98. CEO Wes Cummins sold 100,000 shares on April 10, 2026, but also acquired 100,000 shares on the same day.

Analysts Set New Price Targets

On June 17, 2026, Northland Capital Markets maintained its buy rating on Applied Digital with an $82 price target. Other firms, including Craig-Hallum and Lake Street, also maintained buy ratings with targets of $79 and $90, respectively, on June 9, 2026. Overall, analysts have a strong buy consensus, with a mean target price of $71 across 11 opinions.

About Applied Digital Corporation

Applied Digital Corporation, headquartered in Dallas, Texas, designs and operates digital infrastructure solutions for high-performance computing and AI industries in North America. The company provides infrastructure services for crypto mining and GPU computing solutions for AI and machine learning tasks. It operates data centers to support these applications. Formerly known as Applied Blockchain, Inc., it rebranded in November 2022. The company is led by CEO Wesley Cummins and employs around 205 people.

Bottom Line

Northland Capital's reiterated buy rating on Applied Digital reflects ongoing confidence in the company's future potential despite current profitability issues. Investors often track such analyst updates for insights into market sentiment. Remember, these ratings are based on past data and may not reflect current conditions.