Applied Digital Corp (NASDAQ: APLD) is drawing renewed attention from Wall Street analysts, with multiple firms lifting their price targets and reaffirming bullish ratings on the stock.
Northland revised its price target on Applied Digital upward from $56 to $82, signaling strong conviction in the company’s growth trajectory and operational execution.
Alongside the price target increase, Northland maintained its Outperform rating, designating Applied Digital as one of its top picks for 2026.
The firm credited Applied Digital’s management, site sourcing, and development team, noting they are executing at an extremely high level across all major operational fronts.
Craig Hallum also raised its price target on Applied Digital to $79 from $75 on June 9, reiterating a Buy rating on the stock.
The revised Craig Hallum target represents an impressive 109% upside from the stock’s current trading levels, underlining the firm’s strong confidence in near-term performance.
Craig Hallum pointed to Applied Digital’s announcement of another lease with a US-based high-investment-grade hyperscaler as a key driver of its optimism.
The company has now secured five leases and 1.4 gigawatts of contracted capacity, reflecting an aggressive expansion of its data center business and long-term revenue base.
Applied Digital builds and operates digital infrastructure for AI and computing companies across North America, providing data centers and GPU computing solutions for businesses working in artificial intelligence.
The company is headquartered in Dallas, Texas, and was founded in 2021 by Wes Cummins and Jason Zhang, having since grown into a major player in AI infrastructure development.
The string of analyst upgrades comes even as the stock has experienced recent selling pressure, with Wall Street broadly viewing the pullback as an entry point rather than a cause for concern.
With contracted capacity growing and major hyperscaler relationships deepening, Applied Digital appears positioned to capitalize on surging demand for AI-ready data center infrastructure throughout 2026.
