Cantor Fitzgerald Forecasts Strong Price Appreciation for Marathon Digital (NASDAQ:MARA) Stock

Key Points

• Cantor Fitzgerald has raised its price target for Marathon Digital (NASDAQ:MARA) from $28.00 to $30.00, indicating a potential upside of 53.89% from its previous close.
• Marathon Digital reported an impressive quarterly EPS of $1.84, significantly surpassing analysts' expectations of ($0.29), with a revenue of $238.50 million for the quarter.
• Insider transactions revealed a 20.40% decrease in ownership for Director Vicki Mealer-Burke after selling nearly 15,000 shares, and CFO Salman Hassan Khan also sold over 34,000 shares, impacting institutional ownership dynamics.

Marathon Digital (NASDAQ:MARA - Get Free Report) had its price objective raised by stock analysts at Cantor Fitzgerald from $28.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 53.89% from the company's previous close.

MARA has been the subject of a number of other research reports. Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Piper Sandler boosted their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. BTIG Research reissued a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Marathon Digital in a research note on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Marathon Digital has an average rating of "Moderate Buy" and an average price target of $23.40.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $19.49 on Monday. Marathon Digital has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The firm has a market capitalization of $7.22 billion, a PE ratio of 17.65 and a beta of 6.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The stock's fifty day moving average is $16.42 and its 200 day moving average is $15.48.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly 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 firm had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.72) EPS. On average, sell-side analysts anticipate that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the transaction, the director owned 58,103 shares in the company, valued at $884,327.66. This represents a 20.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the sale, the chief financial officer owned 318,428 shares of the company's stock, valued at approximately $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,598 shares of company stock valued at $3,466,128 over the last 90 days. Corporate insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MARA. Fifth Third Bancorp lifted its position in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares in the last quarter. Estabrook Capital Management purchased a new stake in shares of Marathon Digital during the 2nd quarter valued at approximately $31,000. IFP Advisors Inc lifted its holdings in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after acquiring an additional 2,001 shares during the last quarter. CX Institutional purchased a new position in Marathon Digital in the first quarter worth approximately $68,000. Finally, Smartleaf Asset Management LLC raised its position in Marathon Digital by 303.6% in the second quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider's stock valued at $75,000 after purchasing an additional 3,771 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.

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