JPMorgan Chase & Co. Cuts MARA (NASDAQ:MARA) Price Target to $18.00

MARA (NASDAQ:MARA) had its price target trimmed by JPMorgan Chase & Co. from $23.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other brokerages have also commented on MARA. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Thursday, February 27th. Rosenblatt Securities initiated coverage on MARA in a research report on Friday, March 7th. They set a “buy” rating and a $19.00 price objective for the company. Piper Sandler lowered their price objective on MARA from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Barclays lowered their price objective on MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, Compass Point lowered MARA from a “buy” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.80.

MARA Stock Up 8.4 %

Shares of NASDAQ MARA opened at $13.18 on Thursday. MARA has a one year low of $12.05 and a one year high of $30.28. 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 firm’s 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $18.23. The stock has a market capitalization of $4.56 billion, a P/E ratio of 16.68 and a beta of 5.95.

MARA (NASDAQ:MARA) last issued its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $1.56. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $214.39 million for the quarter, compared to analysts’ expectations of $187.11 million. As a group, analysts expect that MARA will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the transaction, the chief financial officer now directly owns 1,773,788 shares of the company’s stock, valued at $27,156,694.28. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.50, for a total value of $646,367.50. Following the transaction, the chief executive officer now directly owns 4,128,090 shares in the company, valued at approximately $97,010,115. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,915 shares of company stock worth $2,265,643. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MARA. Spire Wealth Management lifted its holdings in MARA by 26.7% in the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider’s stock worth $48,000 after purchasing an additional 599 shares in the last quarter. United Services Automobile Association lifted its holdings in MARA by 3.4% in the 4th quarter. United Services Automobile Association now owns 19,065 shares of the business services provider’s stock worth $320,000 after purchasing an additional 635 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its stake in MARA by 79.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock worth $33,000 after acquiring an additional 860 shares during the last quarter. Mackenzie Financial Corp increased its stake in MARA by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock worth $304,000 after acquiring an additional 878 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in MARA by 7.3% in the 4th quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider’s stock worth $244,000 after acquiring an additional 992 shares during the last quarter. 44.53% of the stock is 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.