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

MARA (NASDAQ:MARA) had its price objective hoisted by Macquarie from $22.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Macquarie’s price target suggests a potential upside of 46.02% from the company’s previous close.

MARA has been the subject of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of MARA in a report on Wednesday, November 13th. Cantor Fitzgerald began coverage on MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, MARA presently has a consensus rating of “Hold” and an average target price of $22.57.

MARA Price Performance

Shares of MARA stock opened at $19.86 on Monday. The business has a 50 day simple moving average of $17.53 and a two-hundred day simple moving average of $18.64. MARA has a 12 month low of $9.88 and a 12 month high of $34.09. The stock has a market capitalization of $6.39 billion, a P/E ratio of 25.14 and a beta of 5.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

MARA (NASDAQ:MARA) last announced its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). 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 for the quarter, compared to analyst estimates of $140.26 million. During the same period in the previous year, the company earned ($0.05) EPS. MARA’s revenue was up 34.4% compared to the same quarter last year. As a group, analysts predict that MARA will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,524,546 over the last quarter. 0.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MARA. Vanguard Group Inc. boosted its position in shares of MARA by 1.9% during the first 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 during the period. Ameritas Investment Partners Inc. boosted its position in shares of MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after buying an additional 881 shares during the period. American International Group Inc. boosted its position in shares of MARA by 4.3% during the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after buying an additional 4,593 shares during the period. Natixis purchased a new position in MARA in the first quarter valued at $177,000. Finally, Northwest Wealth Management LLC purchased a new position in MARA in the first quarter valued at $241,000. 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.