H.C. Wainwright Raises PT on Applied Digital from $12 to $15, Maintains Buy Rating on the Stock

Applied Digital Corporation (NASDAQ:APLD) is one of the Best Information Technology Services Stocks to Invest In. On July 31, H.C. Wainwright raised its price target on Applied Digital Corporation (NASDAQ:APLD) from $12 to $15, maintaining its Buy rating on the stock.

Kevin Dede from H.C. Wainwright increased his price target on APLD following the strong Q4 FY2025 results. Applied Digital posted $38 million in revenue, up by 41% year-over-year. The company signed a major transformative 15-year lease agreement with CoreWeave, which is expected to generate nearly $7 billion in contracted revenue. Dede sees the CoreWeave deal extension as a key development for the company and pointed out that the deal confirms Applied Digital’s “elite datacenter infrastructure provider status.”

H.C. Wainwright Raises PT on Applied Digital from $12 to $15, Maintains Buy Rating on the Stock

A close up of a detailed computer server in a secure data center.

With robust growth across its data center hosting business, Applied Digital has also reduced projected build times from two years to 12-14 months. This will enhance efficiency in delivering large-scale commitments.

Applied Digital Corporation is a designer, developer, and operator of next-generation digital infrastructure across North America. The company offers cloud and digital infrastructure solutions for high-performance computing (HPC) and AI.

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This article is originally published at Insider Monkey.