Piper Sandler Initiates Coverage on MARA (NASDAQ:MARA)

Piper Sandler started coverage on shares of MARA (NASDAQ:MARA) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $34.00 price objective on the business services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays assumed coverage on shares of MARA in a research note on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and increased their price target for the company from $12.00 to $23.00 in a report on Tuesday, December 10th. Compass Point cut MARA from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. Cantor Fitzgerald assumed coverage on MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. Finally, Macquarie boosted their target price on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.50.

MARA Trading Up 0.2 %

Shares of MARA stock opened at $24.60 on Tuesday. MARA has a twelve month low of $13.16 and a twelve month high of $34.09. 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 business has a 50-day moving average price of $20.92 and a 200-day moving average price of $19.29. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 31.14 and a beta of 5.63.

MARA (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $131.60 million for 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 quarterly revenue was up 34.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. Equities research analysts anticipate that MARA will post -1.02 EPS for the current fiscal year.

Insider Activity at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $19.80, for a total transaction of $330,660.00. Following the transaction, the chief financial officer now directly owns 2,029,647 shares of the company’s stock, valued at approximately $40,187,010.60. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay P. Leupp sold 11,200 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $27.06, for a total value of $303,072.00. Following the completion of the sale, the director now owns 142,556 shares of the company’s stock, valued at $3,857,565.36. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,922 shares of company stock worth $2,651,807 in the last quarter. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On MARA

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of MARA by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after buying an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in MARA by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. increased its position in MARA by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the period. Public Sector Pension Investment Board bought a new stake in shares of MARA in the 2nd quarter valued at about $11,920,000. Finally, Rhumbline Advisers lifted its position in shares of MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares during the period. 44.53% of the stock is 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.