Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $24.20 Consensus Price Target from Brokerages

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $24.20.

A number of brokerages have issued reports on MARA. Guggenheim began coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Macquarie raised their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, Piper Sandler raised their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st.

Marathon Digital Stock Performance

Shares of Marathon Digital stock opened at $19.54 on Friday. 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 cap of $7.24 billion, a P/E ratio of 17.60 and a beta of 6.33. The firm has a 50 day simple moving average of $17.71 and a 200 day simple moving average of $16.32. Marathon Digital has a fifty-two week low of $9.81 and a fifty-two week high of $30.28.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm had revenue of $238.50 million for the quarter, compared to analysts’ expectations of $212.25 million. During the same period last year, the firm earned ($0.72) earnings per share. The business’s revenue for the quarter was up 64.0% on a year-over-year basis. Sell-side analysts predict that Marathon Digital will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $19.57, for a total value of $538,272.85. Following the completion of the transaction, the chief executive officer owned 3,718,700 shares of the company’s stock, valued at $72,774,959. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the transaction, the chief financial officer directly owned 318,428 shares of the company’s stock, valued at $5,171,270.72. This trade represents a 9.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,598 shares of company stock valued at $3,616,374 in the last quarter. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Several institutional investors and hedge funds have recently made changes to their positions in MARA. Marex Group plc acquired a new position in shares of Marathon Digital in the 2nd quarter valued at $84,301,000. Norges Bank acquired a new position in shares of Marathon Digital in the 2nd quarter valued at $59,255,000. American Century Companies Inc. grew its holdings in shares of Marathon Digital by 55.7% in the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider’s stock valued at $72,334,000 after buying an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Marathon Digital in the 1st quarter valued at $14,810,000. Finally, Vanguard Group Inc. grew its holdings in shares of Marathon Digital by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider’s stock valued at $457,832,000 after buying an additional 1,028,512 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.