Compass Point Upgrades Marathon Digital (NASDAQ:MARA) to Neutral

Key Points

• Marathon Digital was recently upgraded from a "sell" rating to a "neutral" rating by Compass Point, with a new target price of $18.00, suggesting a potential upside of 4.29% from its current stock price.
• Analysts have varying price targets for Marathon Digital, with Piper Sandler setting a target at $26.00 and HC Wainwright at $28.00, indicating a consensus rating of "Moderate Buy" with an average target of $22.22.
• Marathon Digital's recent quarterly earnings reflected a loss of $0.40 per share, missing estimates, while revenue was reported at $213.88 million, up 29.5% year-over-year.

Compass Point upgraded shares of Marathon Digital (NASDAQ:MARA - Free Report) from a sell rating to a neutral rating in a report released on Friday, MarketBeat reports. The firm currently has $18.00 price objective on the business services provider's stock, up from their previous price objective of $9.50.

MARA has been the subject of several other reports. Piper Sandler raised their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised their price objective on shares of 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. Finally, Barclays raised their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.56.

Marathon Digital Trading Down 1.1%

Shares of MARA traded down $0.19 during trading hours on Friday, reaching $17.06. The stock had a trading volume of 25,333,931 shares, compared to its average volume of 42,602,867. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. 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 of $16.41 and a 200 day moving average of $15.36. The company has a market cap of $6.00 billion, a P/E ratio of -11.75 and a beta of 6.53.

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

Insider Buying and Selling

In related news, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the transaction, the director directly owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the completion of the sale, the chief executive officer owned 4,146,804 shares in the company, valued at $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,090 shares of company stock valued at $4,270,591. Company insiders own 0.80% of the company's stock.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently made changes to their positions in MARA. Park Square Financial Group LLC bought a new stake in Marathon Digital during the fourth quarter worth about $27,000. Fifth Third Bancorp boosted its stake in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after acquiring an additional 683 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,426 shares during the period. IFP Advisors Inc raised its position in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after purchasing an additional 2,001 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in Marathon Digital in the 4th quarter valued at $50,000. Hedge funds and other 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.