Applied Digital Stock Surges on Revenue Beat, AI Data Center Buzz

Core Insights - Applied Digital Corp (NASDAQ:APLD) shares increased by 31.9% to $38.62 following a fiscal first-quarter revenue beat and a narrower quarterly loss of 3 cents per share, compared to analyst expectations of a loss of 13 cents per share, driven by AI-driven leasing activities and a significant 150-megawatt AI data center expansion [1] Price Target Adjustments - Needham raised its price target for APLD to $41 from $21 while maintaining a "buy" rating, and Northland Capital increased its target to $40 from $30, indicating potential for further price-target hikes as the average 12-month price target stands at $36.11, representing a 3.6% deficit to current levels [2] Stock Performance and Technical Indicators - APLD's stock has more than quadrupled in value in 2025, reaching a 21-year high of $39.96, and is on track for its best daily increase since June 2, with the 14-day Relative Strength Index (RSI) at 87, indicating "overbought" territory; however, the ascending 50-day moving average may provide support during any potential pullbacks [3] Short Interest and Options Activity - Short interest in APLD has surged by 21.4% over the past two reporting periods, accounting for 30.6% of the stock's total available float; options trading is active with 202,000 calls exchanged today, six times the average intraday volume, particularly focused on the weekly 10/10 40-strike call [4]