Marathon Digital (NASDAQ:MARA) Earns Neutral Rating from Analysts at Compass Point

Compass Point began coverage on shares of Marathon Digital (NASDAQ:MARA) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $18.00 target price on the business services provider’s stock.

Several other research analysts have also issued reports on MARA. Macquarie increased their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Cantor Fitzgerald increased their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Piper Sandler increased their price target 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. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Marathon Digital Stock Down 1.1%

MARA stock opened at $17.34 on Monday. Marathon Digital has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The business’s 50 day moving average price is $16.62 and its two-hundred day moving average price is $15.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.62 and a beta of 6.35.

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. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the prior year, the business earned ($0.72) EPS. The business’s revenue for the quarter was up 64.0% on a year-over-year basis. As a group, analysts forecast that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the sale, the chief financial officer directly owned 318,428 shares in the company, valued at $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was 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 directly owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,093 shares of company stock worth $3,005,511 over the last three months. 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 made changes to their positions in MARA. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital in the fourth quarter worth approximately $27,000. Fifth Third Bancorp increased its position 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 valued at $29,000 after acquiring an additional 683 shares during the last quarter. Estabrook Capital Management bought a new position in Marathon Digital during the second quarter valued at $31,000. IFP Advisors Inc lifted its stake in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares during the period. Finally, CX Institutional purchased a new stake in shares of Marathon Digital during the first quarter valued at about $68,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

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.