Roth Capital upgraded Applied Digital to Strong Buy on October 22, 2026. The move reflects confidence in the company’s operational progress.
Shares rallied the previous day after Applied Digital agreed to form a joint venture for an AI data center. The rally also followed another analyst’s decision to reinstate coverage with a Buy rating.
Applied Digital reported quarterly revenue of $300.39 million. Revenue increased 367.8% year over year. The company’s adjusted loss was narrower than analysts had expected.
Applied Digital is not yet profitable and remains highly leveraged.