MARA (NASDAQ:MARA) Price Target Raised to $16.00

MARA (NASDAQ:MARA) had its target price lifted by Barclays from $14.00 to $16.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

MARA has been the topic of a number of other research reports. Rosenblatt Securities initiated coverage on shares of MARA in a research note on Friday, March 7th. They set a “buy” rating and a $19.00 price target on the stock. Compass Point restated a “sell” rating and issued a $9.50 target price (down previously from $25.00) on shares of MARA in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on MARA from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Piper Sandler reduced their price objective on MARA from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of MARA in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.72.

MARA Stock Performance

Shares of MARA stock opened at $15.87 on Monday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.59 billion, a PE ratio of 20.09 and a beta of 6.82. MARA has a 12-month low of $9.81 and a 12-month high of $30.28. The business’s fifty day simple moving average is $13.12 and its 200-day simple moving average is $17.21.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same period in the prior year, the business posted $1.26 EPS. MARA’s revenue was up 29.5% compared to the same quarter last year. Analysts expect that MARA will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other MARA news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the transaction, the director now owns 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the completion of the sale, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,615 shares of company stock valued at $2,088,610. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On MARA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of MARA 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 purchasing an additional 1,028,512 shares during the last quarter. Geode Capital Management LLC increased its stake in MARA by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider’s stock worth $128,755,000 after buying an additional 518,503 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of MARA by 55.7% during the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider’s stock valued at $72,334,000 after acquiring an additional 2,250,082 shares during the last quarter. Northern Trust Corp lifted its position in shares of MARA by 7.2% in the first quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider’s stock valued at $40,592,000 after acquiring an additional 236,251 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of MARA by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider’s stock valued at $38,210,000 after acquiring an additional 294,161 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

MARA 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.