MARA (NASDAQ:MARA) Given New $20.00 Price Target at Rosenblatt Securities

MARA (NASDAQ:MARA - Free Report) had its target price increased by Rosenblatt Securities from $17.00 to $20.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the business services provider's stock.

Several other equities research analysts have also recently issued reports on MARA. JPMorgan Chase & Co. cut their price objective on shares of MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Barclays raised their price target on shares of MARA from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Piper Sandler decreased their price objective on MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Compass Point reissued a "sell" rating and set a $9.50 target price (down previously from $25.00) on shares of MARA in a research note on Tuesday, May 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.83.

MARA Price Performance

NASDAQ MARA traded down $1.58 during mid-day trading on Tuesday, hitting $14.86. The stock had a trading volume of 57,173,951 shares, compared to its average volume of 45,233,623. MARA has a twelve month low of $9.81 and a twelve month high of $30.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The firm's 50 day moving average is $13.70 and its 200 day moving average is $17.06. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 18.81 and a beta of 6.82.

MARA (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The business had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. MARA's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. Equities research analysts forecast that MARA will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at MARA

In other news, Director Douglas K. Mellinger sold 3,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the sale, the director now owns 176,859 shares in the company, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 55,010 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $15.00, for a total transaction of $825,150.00. Following the completion of the transaction, the chief executive officer now owns 4,146,804 shares of the company's stock, valued at approximately $62,202,060. The trade was a 1.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 152,315 shares of company stock valued at $2,322,961. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On MARA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of MARA by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after purchasing an additional 1,028,512 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MARA by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock valued at $128,755,000 after purchasing an additional 518,503 shares during the period. American Century Companies Inc. grew its stake in MARA by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after buying an additional 2,250,082 shares during the last quarter. Northern Trust Corp increased its position in MARA by 7.2% during the first quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock worth $40,592,000 after buying an additional 236,251 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in MARA by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock valued at $38,210,000 after buying an additional 294,161 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

About MARA

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.