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

MARA (NASDAQ:MARA) had its target price lifted by Macquarie from $22.00 to $29.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Macquarie’s price objective would suggest a potential upside of 40.71% from the company’s current price.

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

MARA Stock Down 2.2 %

Shares of NASDAQ:MARA traded down $0.46 during trading hours on Monday, reaching $20.61. The stock had a trading volume of 43,669,438 shares, compared to its average volume of 54,034,352. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 26.09 and a beta of 5.52. The firm’s 50 day moving average is $17.38 and its 200-day moving average is $18.61. MARA has a 1 year low of $9.88 and a 1 year high of $34.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.75 and a current ratio of 4.00.

MARA (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The company had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Research analysts predict that MARA will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MARA news, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The trade was a 0.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. This trade 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 worth $1,524,546 over the last ninety days. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On MARA

Institutional investors have recently made changes to their positions in the company. Beaird Harris Wealth Management LLC increased its stake in 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 purchasing an additional 695 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of MARA during the 3rd quarter valued at about $26,000. Larson Financial Group LLC raised its stake in MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,062 shares during the period. Signaturefd LLC lifted its holdings in MARA by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in MARA in the third quarter valued at approximately $50,000. 44.53% of the stock is currently owned by 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.