Applied Digital Q3 financial results missed consensus revenue and adjusted loss per share due to datacenter power outages; analysts lowered target prices.
Applied Digital (APLD) reported Q3 financial results missing consensus revenue and adjusted loss per share, while encountering facility power outages in its datacenter hosting business. Lake Street Capital lowered its target price from $19 to $7, while other analysts at B. Riley, Needham & Co, and Roth MKM adjusted their target prices as well. Despite the challenges, the company progressed in its key growth initiatives.
April 12, 2024
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