Marathon Digital (NASDAQ:MARA) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Marathon Digital (NASDAQ:MARA) had its target price increased by equities researchers at Cantor Fitzgerald from $28.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 48.15% from the company’s previous close.

MARA has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their target price 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. Macquarie boosted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Piper Sandler boosted their target price 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. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Digital in a research note on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Marathon Digital Stock Down 1.6%

Marathon Digital stock opened at $20.25 on Monday. Marathon Digital has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The stock has a market cap of $7.50 billion, a PE ratio of 18.24 and a beta of 6.33. The firm’s 50-day simple moving average is $16.56 and its 200 day simple moving average is $15.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

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

Insider Activity

In other news, Director Vicki Mealer-Burke sold 14,887 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the sale, the director owned 58,103 shares of the company’s stock, valued at $884,327.66. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total transaction of $478,036.90. Following the completion of the sale, the chief executive officer directly owned 3,755,789 shares in the company, valued at approximately $65,275,612.82. This trade represents a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,598 shares of company stock valued at $3,466,128 over the last quarter. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp increased its holdings in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after buying an additional 683 shares during the last quarter. Estabrook Capital Management bought a new position in shares of Marathon Digital in the 2nd quarter worth $31,000. IFP Advisors Inc increased its holdings in shares of 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 buying an additional 2,001 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after buying an additional 1,340 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Marathon Digital by 303.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock worth $75,000 after buying an additional 3,771 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

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.