HC Wainwright Forecasts Lower Earnings for Marathon Digital

Key Points

• HC Wainwright cut its FY2025 EPS estimate for Marathon to ($2.31) from ($2.08), well below the consensus of ($1.04), and also projects Q4 2025 EPS of ($0.23) and FY2026 EPS of ($1.04).
• Marathon reported Q3 EPS of ($0.32), missing estimates by $0.06 and posting revenue of $252.4M versus $254.6M expected, while showing a high net margin (85.02%) but a negative return on equity (-2.11%).
• Insiders sold roughly 203,598 shares (~$3.6M) over the last quarter, and the stock trades around $15.87 against an average analyst target of $23 and a "Moderate Buy" consensus.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) - Analysts at HC Wainwright reduced their FY2025 earnings per share (EPS) estimates for shares of Marathon Digital in a research report issued to clients and investors on Wednesday, November 5th. HC Wainwright analyst K. Dede now anticipates that the business services provider will earn ($2.31) per share for the year, down from their prior forecast of ($2.08). The consensus estimate for Marathon Digital's current full-year earnings is ($1.04) per share. HC Wainwright also issued estimates for Marathon Digital's Q4 2025 earnings at ($0.23) EPS and FY2026 earnings at ($1.04) EPS.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The firm had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%.

Other equities research analysts have also recently issued reports about the stock. Compass Point initiated coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 target price on the stock. Piper Sandler upped their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Cantor Fitzgerald cut their price objective on Marathon Digital from $30.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, November 5th. Macquarie lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 22nd. Finally, Guggenheim started coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a "neutral" rating on the stock. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.00.

Marathon Digital Stock Performance

Shares of MARA stock opened at $15.87 on Monday. The company has a fifty day moving average price of $18.09 and a two-hundred day moving average price of $16.69. Marathon Digital has a one year low of $9.81 and a one year high of $30.28. The stock has a market cap of $6.00 billion, a P/E ratio of 14.30 and a beta of 6.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds have recently bought and sold shares of MARA. Hollencrest Capital Management boosted its holdings in Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider's stock valued at $25,000 after purchasing an additional 1,300 shares during the period. Bessemer Group Inc. raised its position in shares of Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider's stock valued at $33,000 after buying an additional 659 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after buying an additional 683 shares during the period. Estabrook Capital Management acquired a new stake in Marathon Digital during the second quarter worth approximately $31,000. Finally, Salomon & Ludwin LLC bought a new position in Marathon Digital during the 3rd quarter worth $47,000. 44.53% of the stock is owned by institutional investors.

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the completion of the sale, the chief executive officer directly owned 3,718,700 shares of the company's stock, valued at approximately $72,774,959. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the transaction, the chief financial officer directly owned 318,428 shares in the company, valued at approximately $5,171,270.72. This represents a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 203,598 shares of company stock worth $3,600,164. Company insiders own 0.80% 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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