5 Most Promising Blockchain Stocks According to Analysts

2. Applied Digital Corporation (NASDAQ:APLD)

Number of Hedge Fund Holders: 13

Average Upside Potential as of February 15: 97.37%

Applied Digital Corporation (NASDAQ:APLD) is a leading North American developer and operator of high-performance data centers. The company’s data centers are being leveraged for high-performance computing applications, blockchain infrastructure, and Bitcoin mining. At the close of Q3 2022, 13 hedge funds held stakes in Applied Digital Corporation (NASDAQ:APLD). The total value of these stakes amounted to $21.7 million.

On January 10, B. Riley analyst Lucas Pipes updated his price target on Applied Digital Corporation (NASDAQ:APLD) to $7 from $8 and reiterated a Buy rating on the shares. Applied Digital Corporation (NASDAQ:APLD) has received 7 Buy ratings from analysts and has an average price target of $6. The stock’s average price target represents an upside of 97.37% from its closing price on February 15. Applied Digital Corporation (NASDAQ:APLD) is one of analysts’ most promising blockchain stock picks.

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