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Forget margin or options. Here's how the pros trade APLDApplied Digital Corporation ( (APLD) ) has provided an update.
On February 6, 2026, Applied Digital’s board approved substantial long-term equity awards for Jason Zhang, newly transitioned to President and Co-Founder, and Chief Financial Officer Saidal Mohmand, granting a combined 2.25 million performance stock units and 750,000 restricted stock units under the 2024 Omnibus Equity Incentive Plan. The board characterized these grants as replacing future equity awards for the next five years, designed to tie the executives’ compensation to ambitious growth and profitability milestones while limiting shareholder dilution to less than 2% of outstanding shares.
Zhang’s 1.5 million performance stock units vest in four tranches tied to signing and bringing online 600MW and then 1.6GW of capacity under long-term contracts with investment-grade hyperscalers, while Mohmand’s 750,000 performance units vest upon achieving trailing twelve-month net operating income targets of $1 billion and $2 billion in the HPC hosting segment by 2031. Both sets of PSUs and RSUs feature multi-year vesting, change-in-control and termination protections, transfer restrictions, and clawback and covenant-compliance conditions, reflecting the board’s view that retaining these leaders is critical to capitalizing on the company’s recent revenue surge and rapid expansion of its high-performance computing data center portfolio.
The most recent analyst rating on (APLD) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Applied Digital Corporation stock, see the APLD Stock Forecast page.
Spark’s Take on APLD Stock
According to Spark, TipRanks’ AI Analyst, APLD is a Neutral.
The score is held back primarily by weak financial quality (large losses, negative operating cash flow, heavy free-cash-flow burn, and high leverage). Offsetting this, technicals are notably strong with price trading above all major moving averages, and the latest earnings call outlined sizable contracted lease capacity and a near-term revenue ramp, improving the growth outlook despite ongoing execution and interest-cost risks.
To see Spark’s full report on APLD stock, click here.
More about Applied Digital Corporation
Applied Digital Corporation is a designer, builder and operator of high-performance, sustainably engineered data centers and colocation services focused on artificial intelligence, cloud, networking and blockchain workloads. Following a strategic pivot, the company has emerged as a leading provider in high-performance computing infrastructure, highlighted by rapid capacity leasing at its Polaris Forge campuses in North Dakota and strong stockholder returns, including a roughly 214% share price increase in calendar 2025.
In 2025, Applied Digital fully leased its first 400MW Polaris Forge 1 campus to a hyperscaler tenant and signed a 200MW lease at its Polaris Forge 2 site with an investment-grade hyperscaler, began recognizing related revenue, and broke ground on its 430MW Delta Forge 1 campus in the Southern U.S., supporting a sharp rise in revenue from its HPC hosting business segment and underscoring its growth trajectory in large-scale data center infrastructure.
Average Trading Volume: 31,870,563
Technical Sentiment Signal: Buy
Current Market Cap: $9.77B
See more insights into APLD stock on TipRanks’ Stock Analysis page.