BTIG Research Reiterates "Buy" Rating for Marathon Digital (NASDAQ:MARA)

Marathon Digital (NASDAQ:MARA - Get Free Report)'s stock had its "buy" rating restated by BTIG Research in a research report issued on Friday,Benzinga reports. They presently have a $27.00 price target on the business services provider's stock. BTIG Research's price target indicates a potential upside of 78.69% from the company's previous close.

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Several other equities research analysts have also recently weighed in on MARA. Cantor Fitzgerald increased their price target on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Macquarie increased their price target on 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 raised their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Finally, Barclays raised their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Seven investment 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 a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

Read Our Latest Stock Analysis on Marathon Digital

Marathon Digital Stock Down 4.9%

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MARA stock opened at $15.11 on Friday. The business's 50 day simple moving average is $16.76 and its 200 day simple moving average is $14.97. The firm has a market capitalization of $5.60 billion, a PE ratio of 13.61 and a beta of 6.35. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital has a 1-year low of $9.81 and a 1-year high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data 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. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same period in the prior year, the company earned ($0.72) EPS. Marathon Digital's revenue for the quarter was up 64.0% on a year-over-year basis. As a group, research analysts anticipate that Marathon Digital will post -1.04 EPS for the current year.

Insider Buying and Selling at Marathon Digital

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In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.73, for a total value of $546,334.36. Following the sale, the chief financial officer directly owned 353,160 shares in the company, valued at $5,555,206.80. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the sale, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,712 shares of company stock worth $3,170,128. Corporate insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its stake in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after acquiring an additional 47,826 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock worth $147,000 after acquiring an additional 12,032 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Marathon Digital by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock worth $3,485,000 after acquiring an additional 3,998 shares during the last quarter. Stifel Financial Corp increased its stake in Marathon Digital by 59.3% in the 4th quarter. Stifel Financial Corp now owns 41,497 shares of the business services provider's stock worth $696,000 after acquiring an additional 15,447 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in Marathon Digital by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 125,578 shares of the business services provider's stock worth $1,444,000 after acquiring an additional 4,297 shares during the last quarter. 44.53% of the stock is currently 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.

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