Cantor Fitzgerald Issues Positive Forecast for Marathon Digital (NASDAQ:MARA) Stock Price

Key Points

• Cantor Fitzgerald has raised its price target for Marathon Digital's stock from $34 to $39, indicating a potential upside of 126.09% from the current price.
• The stock received multiple endorsements from research firms, with six analysts rating it as a buy and a consensus target price of $24.56.
• Marathon Digital reported $213.88 million in revenue for the last quarter, reflecting a 29.5% year-over-year increase, despite missing the consensus earnings estimate.

Marathon Digital (NASDAQ:MARA - Get Free Report) had its price objective boosted by equities researchers at Cantor Fitzgerald from $34.00 to $39.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the business services provider's stock. Cantor Fitzgerald's price objective points to a potential upside of 126.09% from the stock's current price.

Several other research firms have also recently weighed in on MARA. Rosenblatt Securities upped their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Piper Sandler upped their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $19.00 to $22.00 in a research note on Monday. HC Wainwright reissued a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, Barclays upped their target price on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.56.

Marathon Digital Trading Down 0.1%

Shares of MARA opened at $17.25 on Monday. The business's 50-day moving average price is $16.41 and its 200-day moving average price is $15.36. Marathon Digital has a twelve month low of $9.81 and a twelve month high of $30.28. The stock has a market cap of $6.07 billion, a PE ratio of -11.90 and a beta of 6.53. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The company had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same quarter in the prior year, the company earned $1.26 earnings per share. The company's quarterly revenue was up 29.5% on a year-over-year basis. On average, equities analysts forecast that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 262,090 shares of company stock worth $4,270,591. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. Yousif Capital Management LLC increased its holdings in shares of Marathon Digital by 4.9% during the second quarter. Yousif Capital Management LLC now owns 131,757 shares of the business services provider's stock valued at $2,066,000 after acquiring an additional 6,179 shares in the last quarter. CWM LLC increased its holdings in shares of Marathon Digital by 32.9% during the second quarter. CWM LLC now owns 19,088 shares of the business services provider's stock valued at $299,000 after acquiring an additional 4,728 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Marathon Digital by 45.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,507 shares of the business services provider's stock valued at $447,000 after acquiring an additional 8,885 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Marathon Digital by 375.4% during 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 in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Marathon Digital by 4.6% during the second quarter. Maryland State Retirement & Pension System now owns 103,426 shares of the business services provider's stock valued at $1,622,000 after acquiring an additional 4,592 shares in the last quarter. Institutional investors own 44.53% of the company's stock.

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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