Applied Digital Likely To Report Q1 Loss; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Core Insights - Applied Digital Corporation is expected to report a quarterly loss of 16 cents per share for Q1, compared to a loss of 15 cents per share a year ago, with projected revenue of $45.46 million, down from $60.70 million a year earlier [1] Group 1: Earnings Expectations - The company will release its earnings results on October 9, with analysts forecasting a quarterly loss of 16 cents per share [1] - Projected quarterly revenue is $45.46 million, a decrease from $60.70 million in the same quarter last year [1] Group 2: Expansion Plans - On August 18, the company announced plans to begin construction on a $3 billion AI data campus in Harwood, North Dakota, named Polaris Forge 2 [2] - The facility will have a capacity of 280 megawatts and is expected to start operations in 2026, reaching full capacity by early 2027 [2] - Following the announcement, Applied Digital shares increased by 4.5%, closing at $27.71 [2] Group 3: Analyst Ratings - HC Wainwright & Co. analyst Kevin Dede maintained a Buy rating and raised the price target from $15 to $20 [8] - Lake Street analyst Rob Brown also maintained a Buy rating, increasing the price target from $14 to $18 [8] - Needham analyst John Todaro raised the price target from $12 to $16 while maintaining a Buy rating [8] - B. Riley Securities analyst Nick Giles increased the price target from $8 to $15, maintaining a Buy rating [8] - JMP Securities analyst Greg Miller maintained a Market Outperform rating and raised the price target from $12 to $18 [8]