Macquarie Boosts MARA (NASDAQ:MARA) Price Target to $29.00

MARA (NASDAQ:MARA) had its price objective upped by Macquarie from $22.00 to $29.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of MARA in a report on Wednesday, November 13th. Cantor Fitzgerald assumed coverage on MARA in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, MARA presently has an average rating of “Hold” and an average price target of $22.88.

MARA Price Performance

Shares of NASDAQ:MARA opened at $23.98 on Monday. The firm’s 50 day moving average price is $17.66 and its 200-day moving average price is $18.67. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.72 billion, a PE ratio of 30.35 and a beta of 5.52. MARA has a twelve month low of $9.88 and a twelve month high of $34.09.

MARA (NASDAQ:MARA) last released its quarterly 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 business had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Equities research analysts expect that MARA will post -0.72 EPS for the current year.

Insider Transactions at MARA

In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at $36,351,560. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,622 shares of company stock valued at $2,399,805. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MARA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its position in shares of MARA by 27.7% during the 3rd quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock valued at $3,669,000 after purchasing an additional 49,062 shares during the last quarter. Everence Capital Management Inc. bought a new position in MARA during the third quarter valued at $640,000. Rhumbline Advisers raised its stake in shares of MARA by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after acquiring an additional 439,309 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of MARA in the 2nd quarter worth about $4,498,000. Finally, Public Sector Pension Investment Board purchased a new position in shares of MARA during the 2nd quarter worth about $11,920,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

MARA 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.