Marathon Digital (NASDAQ:MARA) Receives Buy Rating from Rosenblatt Securities

Key Points

• Rosenblatt Securities has reaffirmed a "Buy" rating for Marathon Digital (NASDAQ:MARA) and set a price target of $20.00, indicating a potential upside of 20.41% from its previous close.
• The stock has received a mix of ratings from analysts, with four hold ratings and six buy ratings, leading to an average rating of "Moderate Buy" and a target price of $24.56.
• Marathon Digital reported a net loss with an EPS of ($0.40), which was below analysts' expectations, despite a year-over-year revenue increase of 29.5%.

Rosenblatt Securities restated their buy rating on shares of Marathon Digital (NASDAQ:MARA - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $20.00 price target on the business services provider's stock.

A number of other analysts have also recently weighed in on MARA. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $19.00 to $22.00 in a research note on Monday. HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a research note on Thursday, April 24th. Piper Sandler boosted 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. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Finally, Cantor Fitzgerald upped their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Marathon Digital presently has an average rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Stock Down 3.6%

MARA stock traded down $0.58 during trading hours on Wednesday, hitting $15.50. The company's stock had a trading volume of 43,055,752 shares, compared to its average volume of 42,810,273. The stock has a 50 day moving average price of $16.46 and a two-hundred day moving average price of $15.36. The company has a quick ratio of 0.79, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital has a 12 month low of $9.81 and a 12 month high of $30.28. The company has a market capitalization of $5.45 billion, a PE ratio of 13.96 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The firm had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Marathon Digital's quarterly revenue was up 29.5% compared to the same quarter last year. On average, equities research analysts expect that Marathon Digital will post -1.04 earnings per share for the current year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $825,150.00. Following the completion of the transaction, the chief executive officer owned 4,146,804 shares in the company, valued at approximately $62,202,060. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the completion of the transaction, the chief financial officer owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. This represents a 2.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,090 shares of company stock worth $4,270,591. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after buying an additional 683 shares in the last quarter. CX Institutional grew its holdings in shares of Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after purchasing an additional 749 shares during the last quarter. Ranch Capital Advisors Inc. grew its holdings in shares of Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock worth $168,000 after purchasing an additional 805 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Marathon Digital by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after purchasing an additional 878 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after purchasing an additional 991 shares during the last quarter. Institutional investors and hedge funds 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.