Analysts Set MARA Holdings (NASDAQ:MARA) Price Target at $18.90

Shares of MARA Holdings (NASDAQ:MARA) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.20.

A number of research firms have recently issued reports on MARA. Piper Sandler dropped their target price on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of MARA in a research note on Friday, August 7th. JPMorgan Chase & Co. restated an “underweight” rating and set a $11.00 price target (down from $13.00) on shares of MARA in a research report on Monday, September 14th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of MARA in a research note on Monday, June 1st. Finally, Cantor Fitzgerald cut their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th.

MARA Stock Performance

NASDAQ MARA opened at $13.24 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $11.16 and its 200-day simple moving average is $11.46. The company has a market cap of $5.11 billion, a PE ratio of -1.45 and a beta of 5.32. MARA has a 1-year low of $6.66 and a 1-year high of $23.45.

MARA (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). The firm had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, equities research analysts anticipate that MARA will post -1.65 EPS for the current fiscal year.

Key Headlines Impacting MARA

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Bitcoin rebound supports MARA: Bitcoin reportedly climbed about 6% toward $81,000, a favorable catalyst for MARA because miners’ revenue and asset values are closely tied to Bitcoin prices. MARA’s substantial Bitcoin holdings and high operating leverage can amplify gains in the cryptocurrency. Why Is MARA Stock Surging on Friday?
• Positive Sentiment: Morgan Stanley raised its outlook: Reports said Morgan Stanley doubled its price target for MARA, adding to bullish sentiment and helping reinforce the stock’s upward momentum. The upgrade was accompanied by broader optimism in Wall Street forecasts for the company. MARA Holdings Stock Jumps After Morgan Stanley Doubles Price Target
• Neutral Sentiment: Infrastructure expansion remains a longer-term catalyst: MARA has reported 35,577 BTC held as of June 30 and 70.3 EH/s of energized hashrate, while pursuing additional powered-land capacity in Texas. These initiatives could expand mining capacity, but execution, capital requirements and Bitcoin volatility remain important risks. Why MARA Holdings Stock Is Up Today
• Negative Sentiment: Rally increases profit-taking risk: MARA had already gained roughly 21% over the preceding month, potentially making the stock vulnerable to consolidation or profit-taking. Quiver also reported open-market insider sales by the CEO, CFO and general counsel, with no reported insider purchases in the past six months. MARA Holdings Just Rallied 21% in a Month

Insider Buying and Selling

In other news, Director Douglas Mellinger sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $12.00, for a total value of $100,512.00. Following the completion of the sale, the general counsel directly owned 898,780 shares of the company’s stock, valued at approximately $10,785,360. This represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 86,386 shares of company stock valued at $928,125. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of MARA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of MARA by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after acquiring an additional 251,674 shares during the last quarter. Norges Bank purchased a new position in MARA during the fourth quarter worth about $39,492,000. Capital World Investors raised its stake in MARA by 0.6% during the fourth quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock worth $26,534,000 after purchasing an additional 19,048 shares during the period. Principal Financial Group Inc. boosted its holdings in MARA by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock valued at $14,999,000 after purchasing an additional 35,978 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in MARA by 11.5% in the 1st quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock valued at $5,099,000 after purchasing an additional 65,220 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

MARA Company Profile

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.