Marathon Digital (NASDAQ:MARA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Marathon Digital (NASDAQ:MARA - Get Free Report) had its price target lifted by research analysts at Piper Sandler from $23.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. Piper Sandler's target price indicates a potential upside of 38.08% from the company's previous close.

Several other analysts also recently weighed in on MARA. Compass Point restated a "sell" rating and set a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a research report on Thursday, April 24th. Barclays increased their target price on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Rosenblatt Securities boosted their price target on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.28.

Marathon Digital Stock Down 3.5%

Shares of NASDAQ:MARA traded down $0.68 during trading on Monday, hitting $18.83. 39,866,573 shares of the company's stock traded hands, compared to its average volume of 44,927,253. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -12.99 and a beta of 6.53. The company has a 50-day moving average price of $16.19 and a 200-day moving average price of $15.40.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The company had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. As a group, research analysts forecast that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the transaction, the director directly owned 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total value of $661,644.60. Following the transaction, the chief financial officer owned 324,572 shares in the company, valued at approximately $6,183,096.60. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 262,090 shares of company stock valued at $4,270,591. Corporate insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its stake in Marathon Digital by 307.7% during the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after acquiring an additional 47,826 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Marathon Digital by 1,521.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock worth $147,000 after acquiring an additional 12,032 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Marathon Digital by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider's stock worth $5,957,000 after acquiring an additional 3,393 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Marathon Digital during the fourth quarter worth about $195,000. Finally, Wells Fargo & Company MN raised its stake in Marathon Digital by 46.3% during the fourth quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider's stock valued at $4,011,000 after buying an additional 75,668 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

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.