Does Applied Digital Corporation (APLD) Have the Potential to Rally 37.48% as Wall Street Analysts Expect?

Core Viewpoint - Shares of Applied Digital Corporation (APLD) have increased by 13.1% in the past four weeks, closing at $7.79, with a potential upside indicated by Wall Street analysts' price targets suggesting a mean estimate of $10.71, representing a 37.5% increase from the current price [1] Price Targets and Analyst Estimates - The mean estimate consists of seven short-term price targets with a standard deviation of $1.11, where the lowest estimate is $9 (15.5% increase) and the highest is $12 (54% increase) [2] - A low standard deviation indicates a strong agreement among analysts regarding the stock's price movement, which can serve as a starting point for further research [7] Earnings Estimates and Analyst Optimism - Analysts show growing optimism about APLD's earnings prospects, as indicated by a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [9] - Over the last 30 days, the Zacks Consensus Estimate for the current year has risen by 64.1%, with four estimates moving higher and no negative revisions [10] Zacks Rank and Investment Potential - APLD holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, indicating a strong potential upside in the near term [11]