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Why Applied Digital Corporation (APLD) Dipped More Than Broader Market Today
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Applied Digital Corporation (APLD - Free Report) closed the latest trading day at $4.62, indicating a -1.7% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.07%.
The company's stock has dropped by 2.29% in the past month, falling short of the Finance sector's gain of 9.07% and the S&P 500's gain of 7.49%.
The investment community will be paying close attention to the earnings performance of Applied Digital Corporation in its upcoming release. The company is expected to report EPS of $0.01, up 103.45% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $56.76 million, showing a 359.97% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.18 per share and a revenue of $351.23 million, signifying shifts of +136.73% and +534.07%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Applied Digital Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Applied Digital Corporation holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Applied Digital Corporation is currently exchanging hands at a Forward P/E ratio of 26.48. Its industry sports an average Forward P/E of 10.38, so one might conclude that Applied Digital Corporation is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 163, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Applied Digital Corporation (APLD) Dipped More Than Broader Market Today
Applied Digital Corporation (APLD - Free Report) closed the latest trading day at $4.62, indicating a -1.7% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.07%.
The company's stock has dropped by 2.29% in the past month, falling short of the Finance sector's gain of 9.07% and the S&P 500's gain of 7.49%.
The investment community will be paying close attention to the earnings performance of Applied Digital Corporation in its upcoming release. The company is expected to report EPS of $0.01, up 103.45% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $56.76 million, showing a 359.97% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.18 per share and a revenue of $351.23 million, signifying shifts of +136.73% and +534.07%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Applied Digital Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Applied Digital Corporation holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Applied Digital Corporation is currently exchanging hands at a Forward P/E ratio of 26.48. Its industry sports an average Forward P/E of 10.38, so one might conclude that Applied Digital Corporation is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 163, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.