Marathon Digital (NASDAQ:MARA) Coverage Initiated by Analysts at 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.

Analysts at Compass Point initiated coverage on shares of Marathon Digital (NASDAQ:MARA - Get Free Report) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a "neutral" rating and a $18.00 price target on the business services provider's stock. Compass Point's price objective would indicate a potential downside of 5.48% from the company's current price.

Other equities analysts have also issued research reports about the company. Piper Sandler increased 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. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their target price for the company from $19.00 to $22.00 in a report on Monday, July 28th. BTIG Research reissued a "buy" rating and issued a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Macquarie increased their target price on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.50.

Marathon Digital Stock Up 9.8%

Shares of Marathon Digital stock traded up $1.70 during trading hours on Monday, reaching $19.04. 57,238,140 shares of the company were exchanged, compared to its average volume of 44,571,344. Marathon Digital has a 1 year low of $9.81 and a 1 year high of $30.28. The stock's fifty day moving average is $16.62 and its 200 day moving average is $15.09. 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 firm has a market cap of $7.06 billion, a PE ratio of 17.11 and a beta of 6.35.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data 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. 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 quarter in the prior year, the company earned ($0.72) earnings per share. The company's revenue was up 64.0% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the sale, the chief financial officer owned 318,428 shares in the company, valued at approximately $5,171,270.72. This represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the sale, the chief executive officer 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,093 shares of company stock worth $3,005,511. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently made changes to their positions in the business. WT Wealth Management boosted its stake in shares of Marathon Digital by 25.9% during the second quarter. WT Wealth Management now owns 15,269 shares of the business services provider's stock worth $239,000 after buying an additional 3,143 shares during the period. Osaic Holdings Inc. raised its holdings in Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,340 shares in the last quarter. Total Investment Management Inc. purchased a new position in Marathon Digital during the second quarter worth about $151,000. Thrivent Financial for Lutherans raised its holdings in Marathon Digital by 3.8% during the second quarter. Thrivent Financial for Lutherans now owns 258,778 shares of the business services provider's stock worth $4,058,000 after purchasing an additional 9,495 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in Marathon Digital by 92.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 47,915 shares of the business services provider's stock worth $751,000 after purchasing an additional 23,000 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

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.