Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $24.22

Key Points

• Marathon Digital Holdings, Inc. received a consensus recommendation of "Moderate Buy" from ten analysts, with four holding and six buying the stock.
• The company's stock price target has seen multiple upward revisions, with Piper Sandler setting a new target of $26.00.
• Marathon Digital reported a significant earnings per share of $1.84, surpassing estimates by $2.13, and reporting a year-over-year revenue increase of 64.0%.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) has earned an average rating of "Moderate Buy" from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.2222.

A number of analysts recently commented on MARA shares. Cantor Fitzgerald boosted their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Macquarie upped their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. Finally, Compass Point raised shares of Marathon Digital from a "sell" rating to a "neutral" rating and upped their price target for the company from $9.50 to $18.00 in a report on Friday, July 25th.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total transaction of $536,897.60. Following the completion of the sale, the chief executive officer directly owned 3,946,504 shares of the company's stock, valued at approximately $77,035,758.08. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the sale, the chief financial officer directly owned 324,572 shares of the company's stock, valued at approximately $6,183,096.60. This trade represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,680 shares of company stock valued at $2,912,651 over the last 90 days. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in MARA. O Shaughnessy Asset Management LLC purchased a new stake in Marathon Digital during the 4th quarter worth $293,000. Alliancebernstein L.P. increased its stake in Marathon Digital by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider's stock worth $5,957,000 after buying an additional 3,393 shares during the period. Wells Fargo & Company MN increased its stake in Marathon Digital by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider's stock worth $4,011,000 after buying an additional 75,668 shares during the period. Federated Hermes Inc. purchased a new stake in Marathon Digital during the 4th quarter worth $364,000. Finally, Legal & General Group Plc increased its stake in Marathon Digital by 6.9% during the 4th quarter. Legal & General Group Plc now owns 932,581 shares of the business services provider's stock worth $15,639,000 after buying an additional 60,528 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Price Performance

Shares of MARA traded down $0.57 during mid-day trading on Friday, hitting $15.38. The company's stock had a trading volume of 25,565,741 shares, compared to its average volume of 46,297,448. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital has a 1-year low of $9.81 and a 1-year high of $30.28. The firm has a market capitalization of $5.70 billion, a P/E ratio of 13.86 and a beta of 6.24. The firm has a 50-day simple moving average of $16.55 and a 200 day simple moving average of $15.17.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. Marathon Digital's quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.72) earnings per share. Analysts predict that Marathon Digital will post -1.04 EPS for the current fiscal year.

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.