Applied Digital Corporation (NASDAQ:APLD) shares are trading higher Thursday after the company reported its first-quarter financial results after Wednesday's closing bell.
The Details:
Applied Digital beat analyst expectations on the top and bottom lines for the first quarter of fiscal year 2025. The company credited the increase in revenues to the launch of its Cloud Services business at the end of the previous fiscal year.
Applied Digital also highlighted the September closing of a $160 million private placement from a group of institutional and accredited investors which included Nvidia Corp.
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Multiple analysts updated coverage on Applied Digital stock following the print:
Roth MKM reiterated its Buy rating on Applied Digital and maintained its $10 price target.
Craig-Hallum analyst George Sutton maintained ...
