JPMorgan Chase & Co. Cuts Marathon Digital (NASDAQ:MARA) Price Target to $20.00

Marathon Digital (NASDAQ:MARA) had its target price cut by JPMorgan Chase & Co. from $22.00 to $20.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Other research analysts have also issued research reports about the stock. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. Piper Sandler increased their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Compass Point began coverage on Marathon Digital in a research report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target for the company. Macquarie upped their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, BTIG Research reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.30.

Marathon Digital Stock Up 0.4%

MARA opened at $16.13 on Friday. The company has a market capitalization of $5.98 billion, a PE ratio of 14.53 and a beta of 6.36. 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 has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The business has a 50-day moving average of $16.38 and a 200-day moving average of $15.27.

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

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the sale, the chief financial officer directly owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. This trade represents a 9.83% 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, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the transaction, the chief executive officer owned 3,755,789 shares in the company, valued at $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 204,598 shares of company stock worth $3,483,548 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Marathon Digital

Hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC acquired a new stake in shares of Marathon Digital in the fourth quarter worth $27,000. Fifth Third Bancorp raised its stake in Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management bought a new stake in Marathon Digital in the 2nd quarter valued at $31,000. IFP Advisors Inc grew its position in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after purchasing an additional 2,001 shares during the last quarter. Finally, CX Institutional acquired a new stake in Marathon Digital in the 1st quarter worth $68,000. 44.53% of the stock is owned by institutional investors.

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.