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Investing.com - Craig-Hallum has raised its price target on Applied Blockchain Inc (NASDAQ:APLD) to $18.00 from $12.00 while maintaining a Buy rating on Thursday. The company, currently valued at $2.44 billion, has seen analyst targets ranging from $12 to $24.
The price target increase represents a 50% upside from the previous target of $12.00, with Craig-Hallum citing the company’s recent 150MW expansion as a key factor in the adjustment.
Craig-Hallum noted that Applied Blockchain’s stock has experienced pressure over the past month and indicated the market had not priced in the additional 150MW add-on capacity.
The firm attributed two-thirds of its price target increase to the new expansion deal, with the remaining one-third reflecting potential future opportunities including a possible additional campus in North Dakota with a hyperscale customer.
Craig-Hallum also highlighted other growth prospects not currently reflected in the stock price, including the potential expansion of Polaris (NYSE:PII) Forge 1 to 1GW capacity over time and multiple sites under consideration with underlying power infrastructure.
In other recent news, Applied Digital Corp reported its fourth-quarter 2025 financial results, surpassing earnings per share (EPS) expectations. The company achieved an EPS of -$0.03, which was better than the analyst projections of -$0.14. However, the revenue figures were less favorable, totaling $38 million, which was below the anticipated $42.07 million. These developments are part of a broader picture of the company’s performance. No mergers or acquisitions were reported in the recent updates. Analyst activity around the stock has not been highlighted in the latest news. The company’s financial results have been a focal point for investors looking to understand its current market position.
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