MARA (NASDAQ:MARA) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

MARA (NASDAQ:MARA) issued its quarterly earnings results on Tuesday. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04), Briefing.com reports. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was up 34.4% on a year-over-year basis.

MARA Stock Down 1.8 %

Shares of MARA traded down $0.37 during trading hours on Friday, reaching $20.42. 22,193,377 shares of the stock traded hands, compared to its average volume of 53,988,359. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 25.48 and a beta of 5.52. The company has a current ratio of 4.00, a quick ratio of 3.75 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $18.56. MARA has a 52 week low of $9.21 and a 52 week high of $34.09.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This represents a 0.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MARA. Cantor Fitzgerald assumed coverage on MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of MARA in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Wednesday. Macquarie assumed coverage on MARA in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.57.

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.