Movement Alert｜Applied Digital Rises 5.02% in Regular Trading, B.Riley Raises Target Price to $66

Market Focus

May 28

On May 28, Applied Digital rose 5.02% in regular trading, trading at $47.375 USD/share, with trading volume of approximately $674 million.

On the news front, Wall Street brokerage B.Riley raised its target price on Applied Digital from $53 to $66, maintaining a buy rating. The analyst upgrade reflects growing confidence in the company's business trajectory following a landmark lease agreement announced on May 21. Applied Digital secured a new lease with a US investment-grade hyperscale cloud provider for its fourth AI factory campus, Polaris Forge 3, designed to deliver 300 megawatts of critical IT load supported by approximately 430 megawatts of grid-connected utility power. The deal brings Applied Digital's total contracted lease revenue across four AI Factory campuses to $31 billion, with potential to reach $73 billion if all renewal options are exercised. According to FactSet, the stock carries an average analyst rating of buy with a mean price target of $60.09.

Applied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services for high-performance computing and artificial intelligence industries in North America.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The analyst upgrade reflects growing confidence in the company's business trajectory following a landmark lease agreement announced on May 21. Applied Digital secured a new lease with a US investment-grade hyperscale cloud provider for its fourth AI factory campus, Polaris Forge 3, designed to deliver 300 megawatts of critical IT load supported by approximately 430 megawatts of grid-connected utility power. The deal brings Applied Digital's total contracted lease revenue across four AI Factory campuses to $31 billion, with potential to reach $73 billion if all renewal options are exercised. According to FactSet, the stock carries an average analyst rating of buy with a mean price target of $60.09.</p><p>Applied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services for high-performance computing and artificial intelligence industries in North America.</p><p>(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. 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The analyst upgrade reflects growing confidence in the company's business trajectory following a landmark lease agreement announced on May 21. Applied Digital secured a new lease with a US investment-grade hyperscale cloud provider for its fourth AI factory campus, Polaris Forge 3, designed to deliver 300 megawatts of critical IT load supported by approximately 430 megawatts of grid-connected utility power. The deal brings Applied Digital's total contracted lease revenue across four AI Factory campuses to $31 billion, with potential to reach $73 billion if all renewal options are exercised. According to FactSet, the stock carries an average analyst rating of buy with a mean price target of $60.09.Applied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services for high-performance computing and artificial intelligence industries in North America.(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.)","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}