JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MARA (NASDAQ:MARA) Stock

MARA (NASDAQ:MARA) had its target price increased by research analysts at JPMorgan Chase & Co. from $18.00 to $19.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 20.10% from the company’s current price.

Other equities research analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of MARA in a report on Thursday, April 24th. Piper Sandler lowered their price objective on shares of MARA from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Rosenblatt Securities upped their target price on shares of MARA from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Compass Point restated a “sell” rating and issued a $9.50 price target (down from $25.00) on shares of MARA in a report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.94.

MARA Stock Down 3.2%

MARA stock opened at $15.82 on Friday. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 20.03 and a beta of 6.61. The company’s 50 day simple moving average is $14.33 and its 200 day simple moving average is $16.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. MARA has a fifty-two week low of $9.81 and a fifty-two week high of $30.28.

MARA (NASDAQ:MARA) last posted its 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 firm had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same quarter last year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, sell-side analysts anticipate that MARA will post -1.04 EPS for the current year.

Insider Buying and Selling

In other news, Director Douglas K. Mellinger sold 3,000 shares of MARA 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 completion of the transaction, the director now directly owns 176,859 shares in the company, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 55,010 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total value of $825,150.00. Following the transaction, the chief executive officer now directly owns 4,146,804 shares in the company, valued at $62,202,060. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,615 shares of company stock worth $2,083,284. 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. Norges Bank acquired a new stake in shares of MARA during the 4th quarter worth about $46,413,000. Vanguard Group Inc. boosted its holdings in shares of MARA by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after acquiring an additional 2,706,271 shares during the period. American Century Companies Inc. grew its position in shares of MARA by 55.7% in 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 purchasing an additional 2,250,082 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of MARA during the first quarter worth approximately $14,810,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in MARA by 192.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider’s stock worth $31,817,000 after purchasing an additional 1,248,292 shares during the last quarter. 44.53% of the stock is owned by 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.