MARA (NASDAQ:MARA) Price Target Raised to $29.00

MARA (NASDAQ:MARA) had its target price hoisted by Macquarie from $22.00 to $29.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on MARA in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of MARA in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.57.

MARA Trading Up 13.9 %

Shares of MARA stock opened at $22.63 on Monday. MARA has a 1-year low of $9.88 and a 1-year high of $34.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The business’s fifty day moving average price is $17.66 and its 200 day moving average price is $18.67. The firm has a market capitalization of $7.28 billion, a PE ratio of 28.65 and a beta of 5.52.

MARA (NASDAQ:MARA) last posted its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. As a group, sell-side analysts forecast that MARA will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $330,660.00. Following the completion of the sale, the chief financial officer now owns 2,029,647 shares of the company’s stock, valued at approximately $40,187,010.60. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $19.80, for a total transaction of $544,599.00. Following the transaction, the chief executive officer now owns 4,155,595 shares in the company, valued at $82,280,781. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,622 shares of company stock valued at $2,399,805 over the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of MARA by 261.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after acquiring an additional 2,340,472 shares during the period. Bank of New York Mellon Corp raised its position in MARA by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. boosted its stake in MARA by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of MARA in the second quarter valued at $11,920,000. Finally, Vanguard Group Inc. lifted its position in MARA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after buying an additional 441,455 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

About MARA

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.