Marathon Digital (NASDAQ:MARA) Now Covered by Compass Point

Key Points

• Compass Point has initiated coverage of Marathon Digital (NASDAQ:MARA), assigning a "neutral" rating and setting a price target of $18.00, indicating a potential upside of 10.36% from the stock's previous close.
• Marathon Digital reported $1.84 earnings per share (EPS) for the recent quarter, significantly exceeding analysts' estimates and showing a 64% year-over-year revenue growth.
• Overall, the stock holds a "Moderate Buy" rating from analysts, with an average price target of $24.50, while 44.53% of shares are owned by institutional investors and hedge funds.

Compass Point initiated coverage on shares of Marathon Digital (NASDAQ:MARA - Get Free Report) in a research note issued on Monday. The firm set a "neutral" rating and a $18.00 price target on the business services provider's stock. Compass Point's price target points to a potential upside of 10.36% from the stock's previous close.

Several other analysts have also weighed in on the company. Macquarie boosted their price objective on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Cantor Fitzgerald boosted their price objective on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Piper Sandler upped their target price on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, BTIG Research reiterated a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.50.

Marathon Digital Trading Up 3.8%

Shares of MARA opened at $16.31 on Monday. Marathon Digital has a 12 month low of $9.81 and a 12 month high of $30.28. The stock has a market cap of $6.04 billion, a PE ratio of 14.69 and a beta of 6.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The stock's 50-day moving average is $16.65 and its two-hundred day moving average is $15.04.

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

Insider Activity

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the 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 transaction, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.73, for a total transaction of $546,334.36. Following the transaction, the chief financial officer directly owned 353,160 shares in the company, valued at $5,555,206.80. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 142,361 shares of company stock worth $2,441,463 over the last quarter. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Marathon Digital during the fourth quarter worth about $27,000. Fifth Third Bancorp increased its position in shares of Marathon Digital by 59.9% in the 2nd 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 acquired a new position in Marathon Digital in the 2nd quarter worth $31,000. IFP Advisors Inc boosted its stake in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after buying an additional 2,001 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after purchasing an additional 1,340 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

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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