Brokerages Set Marathon Digital Holdings, Inc. (NASDAQ:MARA) PT at $24.22

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.2222.

A number of research analysts have recently issued reports on the stock. Compass Point upgraded shares of Marathon Digital from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Barclays boosted their price target 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. Finally, HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th.

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total transaction of $536,897.60. Following the transaction, the chief executive officer owned 3,946,504 shares in the company, valued at $77,035,758.08. The trade was a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the business’s 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 transaction, the chief financial officer owned 1,413,298 shares in the company, valued at $22,400,773.30. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,475 shares of company stock worth $2,219,517 in the last quarter. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its holdings in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the last quarter. CX Institutional raised its holdings in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after buying an additional 749 shares during the last quarter. Archer Investment Corp raised its holdings in Marathon Digital by 10.9% during the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after buying an additional 750 shares during the last quarter. Ranch Capital Advisors Inc. raised its holdings in Marathon Digital by 5.8% during the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock worth $168,000 after buying an additional 805 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Marathon Digital by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock worth $304,000 after buying an additional 878 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Trading Down 0.7%

MARA opened at $15.75 on Friday. Marathon Digital has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 14.19 and a beta of 6.24. The company’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $15.13.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million for 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 company’s revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.72) EPS. As a group, research analysts predict that Marathon Digital will post -1.04 earnings per share for the current year.

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.