Applied Digital (APLD) Sees Strong Revenue Growth; Analysts Boost Targets

Applied Digital shares rallied after the company reported strong Q1 2026 revenue growth, driven by rising demand for its AI-focused data centers and cloud infrastructure services. The results prompted a wave of analyst upgrades and higher price targets across Wall Street.

Lake Street Capital raised its price target to $37 from $18, maintaining a Buy rating, citing accelerating demand for Applied’s high-performance computing capacity.

Craig-Hallum lifted its target to $37 from $23, reiterating a Buy rating following the company’s stronger-than-expected quarterly performance.

Needham increased its target to $41 from $21, maintaining a Buy rating and highlighting robust AI-related growth momentum.

Citizens JMP boosted its target to $35 from $18, keeping a Market Outperform rating.

Roth Capital previously raised its target to $43 from $24, and has since lifted it further to $56, citing improving profitability and long-term visibility.

Northland Capital also increased its target to $40 from $30, maintaining an Outperform rating.

The broad analyst support reflects growing confidence in Applied Digital’s execution and positioning within the expanding AI and cloud infrastructure market. Shares last traded near $34, up sharply this week following earnings and the series of bullish analyst calls.