Marathon Digital (NASDAQ:MARA) Given New $21.00 Price Target at Cantor Fitzgerald

Marathon Digital (NASDAQ:MARA) had its price objective decreased by Cantor Fitzgerald from $30.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 21.59% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Digital in a report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Macquarie raised their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Compass Point initiated coverage on Marathon Digital in a research report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Marathon Digital Stock Up 3.9%

Shares of MARA stock traded up $0.65 during mid-day trading on Wednesday, hitting $17.27. The stock had a trading volume of 15,319,731 shares, compared to its average volume of 46,238,645. Marathon Digital has a 12-month low of $9.81 and a 12-month high of $30.28. The firm has a market capitalization of $6.40 billion, a P/E ratio of 15.80 and a beta of 6.33. The firm’s 50-day moving average is $18.07 and its two-hundred day moving average is $16.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) 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 $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. On average, analysts predict that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares of the company’s stock, valued at $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vicki Mealer-Burke sold 14,887 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the sale, the director directly owned 58,103 shares in the company, valued at approximately $884,327.66. The trade was a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 204,598 shares of company stock worth $3,616,374. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Marathon Digital by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider’s stock worth $457,832,000 after acquiring an additional 1,028,512 shares during the last quarter. State Street Corp lifted its position in Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after acquiring an additional 191,380 shares during the last quarter. Geode Capital Management LLC lifted its position in Marathon Digital by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider’s stock worth $144,669,000 after acquiring an additional 315,499 shares during the last quarter. American Century Companies Inc. lifted its position in Marathon Digital by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after acquiring an additional 491,245 shares during the last quarter. Finally, Marex Group plc acquired a new position in Marathon Digital during the 2nd quarter worth $84,301,000. Institutional investors and hedge funds 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.