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

MARA (NASDAQ:MARA) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $23.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 44.30% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Thursday, February 27th. Rosenblatt Securities began coverage on MARA in a research report on Friday, March 7th. They set a “buy” rating and a $19.00 price objective on the stock. B. Riley boosted their price target on MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Piper Sandler dropped their price objective on shares of MARA from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of MARA in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.80.

MARA Price Performance

NASDAQ:MARA traded down $0.64 during trading hours on Thursday, reaching $12.47. The company had a trading volume of 20,068,080 shares, compared to its average volume of 46,373,954. MARA has a one year low of $12.05 and a one year high of $30.28. 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 50-day moving average of $16.83 and a two-hundred day moving average of $18.30. The firm has a market capitalization of $4.31 billion, a PE ratio of 15.67 and a beta of 5.95.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Analysts forecast that MARA will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $392,450.00. Following the transaction, the chief financial officer now owns 1,836,129 shares in the company, valued at approximately $43,149,031.50. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $18.01, for a total value of $495,365.05. Following the completion of the sale, the chief executive officer now directly owns 4,100,585 shares of the company’s stock, valued at approximately $73,851,535.85. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,915 shares of company stock valued at $2,265,643. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On MARA

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of MARA by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after purchasing an additional 2,706,271 shares during the period. Geode Capital Management LLC grew its position in MARA by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider’s stock worth $128,755,000 after purchasing an additional 518,503 shares during the period. American Century Companies Inc. increased its position in shares of MARA by 44.3% during the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock valued at $67,749,000 after purchasing an additional 1,240,354 shares during the last quarter. Northern Trust Corp lifted its position in MARA by 18.1% during the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after purchasing an additional 504,142 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in MARA by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after buying an additional 372,094 shares in the last quarter. Hedge funds and other 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.