10 AI News Updates Making Headlines Right Now

8. Applied Digital Corporation (NASDAQ:APLD)

Number of Hedge Fund Holders: 26

Applied Digital Corporation (NASDAQ:APLD) designs, develops and operates digital infrastructure solutions and cloud services in high-performance computing (HPC) and artificial intelligence industries. On February 4, analysts at Northland Capital Markets raised the stock’s price target to a Street-high of $20 from $12 and maintained an Outperform rating, as reported by Benzinga. APLD shares rose 2% on Tuesday, following the report.

Analysts at Compass Point are also bullish on APLD stock. The firm initiated coverage of the stock with a Buy rating and a $10 price target on January 28. Compass Point analysts are optimistic about the company’s recently penned partnership with Macquarie Asset Management that will support the build-out of its Ellendale HPC Campus. According to the analysts, now is “an interesting opportunity to again buy into the stock to play the HPC datacenter lease signing catalyst”.

Northland’s new target implies an upside of 160% for the stock from current levels, while Compass Point analysts see a 30% upside.