Marathon Digital Holdings, Inc. (NASDAQ:MARA) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Marathon Digital Holdings, Inc. has received a consensus rating of "Moderate Buy" from 13 analysts, with an average price target of $24.20 over the next 12 months.
• The company reported $1.84 earnings per share for its latest quarter, significantly exceeding analysts' expectations, and experienced a 64% year-over-year revenue growth to $238.50 million.
• Recent insider transactions show significant selling, with Director Vicki Mealer-Burke selling 14,887 shares and CFO Salman Hassan Khan selling 34,732 shares in September.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $24.20.

A number of research analysts have issued reports on MARA shares. Compass Point started coverage on shares of Marathon Digital in a research note on Monday, September 15th. They set a "neutral" rating and a $18.00 price target on the stock. Cantor Fitzgerald upped their target price on Marathon Digital from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Piper Sandler raised 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. BTIG Research reaffirmed a "buy" rating and set a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Digital from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, September 26th.

Marathon Digital Trading Up 0.4%

Marathon Digital stock opened at $19.22 on Friday. 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 has a market cap of $7.12 billion, a PE ratio of 17.32 and a beta of 6.33. The stock has a 50-day moving average of $17.63 and a two-hundred day moving average of $16.19. Marathon Digital has a one year low of $9.81 and a one year high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The business had revenue of $238.50 million for 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 revenue was up 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.72) earnings per share. On average, research analysts anticipate that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $884,327.66. This trade represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares of the company's stock, valued at $5,171,270.72. This represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,598 shares of company stock worth $3,616,374. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently modified their holdings of the stock. Marex Group plc purchased a new stake in shares of Marathon Digital in the second quarter worth about $84,301,000. Norges Bank acquired a new position in Marathon Digital in the second quarter valued at approximately $59,255,000. American Century Companies Inc. lifted its holdings in Marathon Digital by 55.7% in the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock valued at $72,334,000 after acquiring an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Marathon Digital in the 1st quarter worth approximately $14,810,000. Finally, Vanguard Group Inc. grew its stake in shares of Marathon Digital by 2.7% during the 1st 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 period. Hedge funds and other 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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