Marathon Digital (NASDAQ:MARA) Now Covered by Guggenheim

Key Points

• Guggenheim has begun coverage on Marathon Digital (NASDAQ:MARA) with a "neutral" rating, while several other analysts have varied ratings and price targets, indicating mixed expectations for the stock.
• Marathon Digital reported a significant quarterly earnings beat with an EPS of $1.84, surpassing expectations, and its revenue increased by 64% year-over-year to $238.50 million.
• Insider trading activity has seen notable sales, with CEO Frederick G. Thiel selling shares at an average price of $19.57, reducing his ownership by 0.73% amidst a backdrop of institutional investments increasing in the company.

Research analysts at Guggenheim began coverage on shares of Marathon Digital (NASDAQ:MARA - Get Free Report) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set a "neutral" rating on the business services provider's stock.

A number of other brokerages have also recently issued reports on MARA. Macquarie lifted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Rosenblatt Securities boosted their price objective on shares of Marathon Digital from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. BTIG Research reissued a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Compass Point initiated coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and an average price target of $23.90.

Marathon Digital Stock Up 5.9%

Shares of NASDAQ MARA opened at $20.73 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The firm has a 50-day moving average price of $17.41 and a 200 day moving average price of $16.09. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 18.68 and a beta of 6.33.

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

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $19.57, for a total transaction of $538,272.85. Following the completion of the sale, the chief executive officer directly owned 3,718,700 shares in the company, valued at $72,774,959. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.74, for a total transaction of $789,805.68. Following the completion of the transaction, the chief financial officer owned 318,030 shares of the company's stock, valued at $7,232,002.20. This trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,598 shares of company stock worth $3,616,374 over the last ninety days. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MARA. Marex Group plc purchased a new position in shares of Marathon Digital in the second quarter valued at $84,301,000. Norges Bank acquired a new stake in Marathon Digital in the second quarter valued at $59,255,000. American Century Companies Inc. raised 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 in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Marathon Digital in the first quarter valued at $14,810,000. Finally, Vanguard Group Inc. raised its holdings in Marathon Digital by 2.7% in the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after acquiring an additional 1,028,512 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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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