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.”

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 (NASDAQ:APLD) 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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Disclosure: None. This article is originally published at Insider Monkey.