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Marathon Digital (NASDAQ:MARA) Stock Rating Upgraded by JPMorgan Chase & Co.

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Key Points

  • Marathon Digital was upgraded by JPMorgan Chase & Co. to an "overweight" rating with a new target price of $22.00, suggesting a potential upside of 27.54% from the last closing price.
  • Analysts' ratings for Marathon Digital show a consensus of "Moderate Buy," with various price target adjustments ranging from $17.00 to $28.00.
  • CFO Salman Hassan Khan and CEO Frederick G. Thiel recently sold shares of the company, indicating a decrease in their ownership positions amidst broader insider selling trends.
  • MarketBeat previews the top five stocks to own by September 1st.

JPMorgan Chase & Co. upgraded shares of Marathon Digital (NASDAQ:MARA - Free Report) from a neutral rating to an overweight rating in a research report released on Monday morning, Marketbeat reports. They currently have $22.00 target price on the business services provider's stock, up from their prior target price of $19.00.

A number of other brokerages have also recently commented on MARA. Piper Sandler upped their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and upped their price target for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Barclays boosted their price objective 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 objective on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

View Our Latest Report on MARA

Marathon Digital Trading Down 1.4%

NASDAQ:MARA traded down $0.23 on Monday, hitting $16.32. 31,263,875 shares of the stock were exchanged, compared to its average volume of 42,740,879. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 14.72 and a beta of 6.53. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79. The company's 50-day moving average price is $16.43 and its 200 day moving average price is $15.36.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The company had revenue of $213.88 million during the quarter, compared to the consensus estimate of $234.19 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.29%. The business's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. On average, equities research analysts forecast that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the sale, the chief executive officer owned 3,946,504 shares in the company, valued at $77,035,758.08. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $19.05, for a total value of $661,644.60. Following the completion of the sale, the chief financial officer owned 324,572 shares in the company, valued at approximately $6,183,096.60. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,090 shares of company stock worth $4,270,591 in the last 90 days. Corporate insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MARA. Norges Bank bought a new position in Marathon Digital during the 4th quarter worth $46,413,000. Vanguard Group Inc. increased its position in Marathon Digital by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after buying an additional 2,706,271 shares during the period. American Century Companies Inc. increased its position in Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after buying an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Marathon Digital in the first quarter worth $14,810,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Marathon Digital by 192.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after purchasing an additional 1,248,292 shares during the period. Institutional investors own 44.53% of the company's stock.

About Marathon Digital

(Get Free Report)

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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