BTIG Research Reiterates Buy Rating for Marathon Digital (NASDAQ:MARA)

Key Points

• BTIG Research has reiterated a "Buy" rating for Marathon Digital (NASDAQ:MARA) with a price target of $27.00, suggesting a potential upside of 78.69% from the previous close.
• Marathon Digital's recent quarterly earnings significantly exceeded expectations, reporting $1.84 EPS against a consensus estimate of ($0.29), and a revenue of $238.50 million, a 64% increase year-over-year.
• While the stock is currently down 4.9%, it has received favorable ratings from several analysts, with a consensus rating of "Moderate Buy" and a price target averaging $24.50.

BTIG Research restated their buy rating on shares of Marathon Digital (NASDAQ:MARA - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. BTIG Research currently has a $27.00 price objective on the business services provider's stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $9.50 to $18.00 in a report on Friday, July 25th. Barclays lifted their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Macquarie raised their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and an average target price of $24.50.

Marathon Digital Stock Up 0.5%

Shares of Marathon Digital stock traded up $0.08 on Friday, reaching $15.19. The company's stock had a trading volume of 62,370,530 shares, compared to its average volume of 45,987,208. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 13.68 and a beta of 6.35. The firm's fifty day simple moving average is $16.77 and its two-hundred day simple moving average is $14.96. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company's quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.72) EPS. Equities analysts anticipate that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer directly owned 1,413,298 shares in the company, valued at approximately $22,400,773.30. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the transaction, the chief executive officer owned 3,810,799 shares in the company, valued at $58,229,008.72. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,712 shares of company stock worth $3,170,128 over the last quarter. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

Several large investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its position in shares of Marathon Digital by 38.6% in the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after acquiring an additional 1,340 shares in the last quarter. Total Investment Management Inc. purchased a new position in shares of Marathon Digital in the second quarter valued at about $151,000. Thrivent Financial for Lutherans lifted its position in shares of Marathon Digital by 3.8% in the second quarter. Thrivent Financial for Lutherans now owns 258,778 shares of the business services provider's stock valued at $4,058,000 after acquiring an additional 9,495 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Marathon Digital by 92.3% in the second quarter. Newbridge Financial Services Group Inc. now owns 47,915 shares of the business services provider's stock valued at $751,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Marex Group plc purchased a new position in shares of Marathon Digital in the second quarter valued at about $84,301,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Company Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.