APLD +14.64% after hours to $28.11 on 02 Jan 2026: earnings spotlight shows re-rating
The stock surged after hours — APLD (Applied Digital Corporation) rose 14.64% to $28.11 on 02 Jan 2026 after the close in the United States (NASDAQ) as traders priced in an improved earnings outlook ahead of the company’s January 07, 2026 after-market report. Volume ran 35,626,965 shares versus an average of 29,808,869 shares, underlining strong retail and institutional interest. We examine what the market move means for valuation, near-term earnings risk, analyst targets and Meyka AI’s model forecasts in this earnings spotlight.
Price action and session details
APLD closed the regular session at $24.52 and traded up to $28.44 intraday before settling at $28.11 after hours, a change of 14.64% on the session. Volume for the day was 35,626,965.00 shares compared with an average volume of 29,808,869.00 shares, signaling above-normal participation. The stock’s 52-week range is $3.31 to $40.20 and market capitalization stands at $7,867,042,043.00, with 279,965,909.00 shares outstanding.
Earnings outlook and upcoming report
Applied Digital reports next on 07 Jan 2026 after the market close (AMC) with consensus estimates pointing to revenue of $45,464,880.00 and an EPS estimate of -$0.11. Recent quarterly history includes a July 30, 2025 quarter with EPS -$0.12 and revenue $38,013,000.00, and the April 14, 2025 quarter where EPS was -$0.16 on revenue $52,921,000.00. Traders are watching guidance and leasing updates tied to CoreWeave and ChronoScale spin-out details for signs of margin improvement.
Valuation and core financials
APLD’s trailing EPS is -$1.01 and the reported price-to-earnings is negative at -27.82 due to losses. Price-to-sales is 31.34 and price-to-book is 6.01, while cash per share is $0.29 and book value per share is $4.08. Free cash flow per share is -$3.90 and the current ratio is 0.65, reflecting capital intensity. These ratios show a growth-stage infrastructure company with heavy capex and negative margins despite a rising top line.
Catalysts driving sentiment
Recent strategic moves include a planned spin-out of the cloud business into ChronoScale, an expanded development pipeline exceeding 4.00 gigawatts focused on AI workloads, and an ongoing Macquarie financing relationship that delivered an initial $112.50 million draw. Nvidia’s stake provides validation and potential commercial alignment for GPU workloads. Management says construction timelines have shortened to 12.00–14.00 months, which could accelerate lease revenue recognition if hyperscaler demand holds.
Risks to the thesis
Key risks include continued negative operating margins, heavy capex (capex to revenue 4.00), project financing execution, and concentration risk from large tenants like CoreWeave. Legacy blockchain mining (286.00 megawatts) exposes the company to cryptocurrency cycles. Analysts also flag thin liquidity in some scenarios despite large average volumes, and a company rating from a separate provider shows weak fundamental scores that investors should weigh alongside growth potential.
Technicals, analyst targets and Meyka grade
Technically APLD shows an RSI of 42.85 and MACD -0.73 with a signal line at -0.49, suggesting neutral momentum after the gap higher; Bollinger band middle sits at $27.71 and ATR is $2.61. The consensus analyst price target data shows a mean target of $34.64, a median of $38.00 and a high target of $56.00, based on coverage where 14 analysts rate the stock as Buy. Meyka AI rates APLD with a score out of 100: Meyka AI rates APLD with a score of 77.49 (Grade B+, Suggestion: BUY). This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. These grades are not guaranteed and we are not financial advisors.
Final Thoughts
APLD’s after-hours pop to $28.11 on 02 Jan 2026 reflects the market pricing improved near-term earnings visibility and the potential value from asset-level deals such as CoreWeave and the ChronoScale spin-out. Trailing metrics remain stretched — EPS is -$1.01 and price-to-sales is 31.34 — but contracted large leases and a 4.00 GW development pipeline are tangible growth drivers. Meyka AI’s forecast model projects a near-term quarterly target of $33.56 (implied upside 19.45% from $28.11) and a three-year projection of $52.99 (implied upside 88.62%); the one-year model shows $22.68 (implied downside -19.28%). Forecasts are model-based projections and not guarantees. Investors should weigh the upcoming 07 Jan 2026 AMC earnings, analyst consensus targets (mean $34.64, median $38.00) and project financing execution when sizing exposure to Applied Digital on NASDAQ in USD. Meyka AI, our AI-powered market analysis platform, will update models after the earnings release.
FAQs
Applied Digital is scheduled to report after the market close on 07 Jan 2026 (AMC). Consensus estimates show revenue of $45,464,880.00 and EPS of -$0.11 ahead of the release.
The move reflects rising optimism around large tenant leases, the ChronoScale spin-out and improved financing visibility; volume was 35,626,965.00 shares, above the 29,808,869.00 average, indicating strong demand.
Meyka AI notes stretched multiples: price-to-sales 31.34 and price-to-book 6.01, with negative EPS. The proprietary grade is B+ (score 77.49) reflecting growth potential vs. current fundamentals; not investment advice.
Analyst consensus shows a mean price target of $34.64 and a median of $38.00, with a high of $56.00 and a low of $7.00 based on available coverage; use targets as one input among many.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.
