Applied Digital (APLD) Price Target Raised at Needham by $3

Applied Digital Corporation (NASDAQ:APLD) is one of the 10 Best Stocks in Leopold Aschenbrenner’s Portfolio.

Applied Digital (APLD) Price Target Raised at Needham by $3

On May 15, 2026, Needham raised its price target on Applied Digital Corporation (NASDAQ:APLD) from $48 to $51. The firm’s analyst John Todaro maintained a Buy rating on the stock. The adjustment arrives after hosting its management team at the Needham Tech Conference. Needham expressed increased confidence in Applied Digital Corporation (NASDAQ:APLD)’s operational trajectory. In particular, the analyst research notes highlight the company’s ability to execute on its 1GW pipeline under construction, secure incremental hyperscaler leases at new sites, and successfully diversify its tenant mix toward investment-grade credit.

Previously, in a separate event, Applied Digital Corporation (NASDAQ:APLD) announced the closing of its previously disclosed transaction to contribute its cloud business to EKSO Bionics Holdings. It resulted in the splitting of its cloud unit into an independent public firm, ChronoScale (CHRN).  Currently trading on Nasdaq, ChronoScale operates as a GPU-based accelerated compute platform for heavy AI workloads. Applied Digital Corporation (NASDAQ:APLD) retains a 97% stake after receiving 138 million shares and investing $15.75 million in cash.

Founded in 2021, Applied Digital Corp (NASDAQ:APLD) builds and operates digital infrastructure for AI and computing companies in North America. Based in Texas, the company provides data centers and GPU computing solutions for businesses working in AI.

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