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

Key Points

• Marathon Digital Holdings has received a consensus recommendation of "Moderate Buy" from ten brokerages, with an average target price of $24.22.
• Recent analyst upgrades include Macquarie raising its price target from $19.00 to $26.00 and JPMorgan increasing its target from $19.00 to $22.00.
• In recent insider transactions, CEO Frederick G. Thiel sold 27,505 shares at an average price of $15.28, reflecting a slight decrease in ownership.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) has earned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $24.2222.

MARA has been the topic of a number of recent research reports. Macquarie boosted their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Piper Sandler boosted their price target on shares of 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. upgraded shares of 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. Finally, Rosenblatt Securities restated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a research note on Wednesday, July 30th.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the sale, the chief executive officer directly owned 3,810,799 shares of the company's stock, valued at $58,229,008.72. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the chief financial officer directly owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,712 shares of company stock worth $3,186,128 over the last quarter. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MARA. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital in the fourth quarter valued at $27,000. Fifth Third Bancorp increased its position 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 in the last quarter. Estabrook Capital Management purchased a new position in shares of Marathon Digital in the second quarter valued at $31,000. IFP Advisors Inc increased its position in shares of Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of Marathon Digital in the first quarter valued at $68,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

Marathon Digital Trading Down 1.1%

Shares of MARA opened at $15.89 on Thursday. Marathon Digital has a 52-week low of $9.81 and a 52-week high of $30.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average is $16.77 and its two-hundred day moving average is $14.98. The stock has a market cap of $5.89 billion, a PE ratio of 14.32 and a beta of 6.35.

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

About Marathon Digital

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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