Marathon Digital (NASDAQ:MARA) Shares Up 8.5% - Time to Buy?

Key Points

• Marathon Digital Holdings, Inc. saw an **8.5% increase** in stock shares during Monday's trading, closing at **$20.24** after reaching a high of **$20.60**.
• Analysts maintain a **"Moderate Buy"** rating for Marathon Digital, with price targets from various firms ranging from **$20.00 to $30.00**.
• The company reported robust quarterly earnings, achieving **$1.84 earnings per share**, significantly exceeding analysts' estimates and marking a **64% year-over-year revenue increase**.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shot up 8.5% during trading on Monday . The company traded as high as $20.60 and last traded at $20.24. 42,064,579 shares were traded during trading, a decline of 10% from the average session volume of 46,587,414 shares. The stock had previously closed at $18.65.

Analyst Ratings Changes

Several analysts have recently issued reports on MARA shares. BTIG Research reiterated a "buy" rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. JPMorgan Chase & Co. dropped their price target on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Macquarie raised their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler raised their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Cantor Fitzgerald raised their price target on shares of Marathon Digital from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Digital currently has an average rating of "Moderate Buy" and a consensus target price of $23.40.

Marathon Digital Stock Performance

The company has a market cap of $7.50 billion, a P/E ratio of 18.23 and a beta of 6.33. The company's 50-day moving average is $16.78 and its two-hundred day moving average is $15.70. 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 (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm's revenue for the quarter was up 64.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.72) earnings per share. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the transaction, the chief executive officer owned 3,810,799 shares in the company, valued at $58,229,008.72. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares of the company's stock, valued at $5,171,270.72. This represents a 9.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,598 shares of company stock worth $3,486,838 over the last quarter. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Marex Group plc purchased a new stake in Marathon Digital in the second quarter valued at approximately $84,301,000. Norges Bank purchased a new stake in Marathon Digital in the second quarter valued at approximately $59,255,000. American Century Companies Inc. raised its stake 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 purchasing an additional 2,250,082 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Marathon Digital in the first quarter valued at approximately $14,810,000. Finally, Vanguard Group Inc. raised its stake 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 purchasing an additional 1,028,512 shares in the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.