Compass Point initiated coverage on Applied Digital with a "buy" rating and a $10.00 price target, while Needham & Company reaffirmed a similar rating. The company, which operates datacenters for high-performance computing and AI services, has a consensus "buy" rating among analysts, with an average target price of $10.67. Despite recent stock volatility, institutional investors have increased their stakes, although the stock has seen a decline of 4.9%, opening at $4.48.