Marathon Digital (NASDAQ:MARA) Price Target Raised to $25.00 at Rosenblatt Securities

Key Points

• Rosenblatt Securities has raised Marathon Digital's price target from $20.00 to $25.00, indicating a potential upside of 20.75% from its current price.
• Marathon Digital recently reported an earnings per share (EPS) of $1.84, exceeding analysts' estimates and leading to a revenue increase of 64% year-over-year.
• The company has received a mix of analyst ratings, with a consensus of "Moderate Buy" and a price target averaging $23.90, suggesting continued interest in the stock.

Marathon Digital (NASDAQ:MARA - Get Free Report) had its price target raised by stock analysts at Rosenblatt Securities from $20.00 to $25.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Rosenblatt Securities' target price indicates a potential upside of 20.75% from the stock's current price.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Piper Sandler lifted their price objective 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. Macquarie lifted their price objective 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. Cantor Fitzgerald lifted their price objective on shares of Marathon Digital from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus price target of $23.90.

Marathon Digital Price Performance

NASDAQ MARA traded down $2.14 on Thursday, reaching $20.70. The company had a trading volume of 31,038,072 shares, compared to its average volume of 46,687,258. 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 stock has a market capitalization of $7.67 billion, a PE ratio of 18.71 and a beta of 6.33. The firm's 50 day moving average price is $17.14 and its 200 day moving average price is $15.85. Marathon Digital has a 12 month low of $9.81 and a 12 month high of $30.28.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. Marathon Digital's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.72) EPS. As a group, equities analysts predict that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the sale, the chief executive officer directly owned 3,755,789 shares of the company's stock, valued at $65,275,612.82. The trade was a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's 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 directly owned 318,428 shares of the company's stock, valued at approximately $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,361 shares of company stock valued at $2,288,295. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in Marathon Digital by 10.0% in the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock valued at $10,549,000 after buying an additional 83,242 shares during the period. Intech Investment Management LLC boosted its position in Marathon Digital by 14.5% in the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock valued at $1,848,000 after buying an additional 20,413 shares during the period. Exchange Traded Concepts LLC boosted its position in Marathon Digital by 7.7% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider's stock valued at $18,396,000 after buying an additional 83,649 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after purchasing an additional 47,826 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its position in shares of Marathon Digital by 26.9% in the 2nd quarter. Fiduciary Alliance LLC now owns 72,735 shares of the business services provider's stock worth $1,140,000 after purchasing an additional 15,426 shares during the period. 44.53% of the stock is 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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