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

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

MARA has been the topic of several other reports. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on shares of MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, MARA currently has an average rating of “Hold” and a consensus target price of $22.57.

MARA Stock Down 14.1 %

Shares of MARA stock opened at $18.11 on Monday. The company has a current ratio of 4.00, a quick ratio of 3.75 and a debt-to-equity ratio of 0.22. MARA has a 1 year low of $9.88 and a 1 year high of $34.09. The firm’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $18.61. The firm has a market capitalization of $5.83 billion, a P/E ratio of 22.92 and a beta of 5.52.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) 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 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 quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts predict 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 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 completion of the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This represents a 0.64 % 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 worth $1,524,546 in the last three months. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MARA

Several large investors have recently modified their holdings of MARA. Truvestments Capital LLC bought a new position in shares of MARA during the third quarter valued at $26,000. Beaird Harris Wealth Management LLC raised its stake in shares of MARA by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 695 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 1,062 shares during the last quarter. Signaturefd LLC raised its stake in shares of MARA by 74.8% during the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of MARA during the third quarter valued at $50,000. 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.