MARA (NASDAQ:MARA) Price Target Raised to $23.00

MARA (NASDAQ:MARA) had its price target raised by B. Riley from $21.00 to $23.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

MARA has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of MARA in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Compass Point cut MARA from a “buy” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $25.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $23.00 in a research report on Tuesday, December 10th. Finally, Barclays initiated coverage on shares of MARA in a research note on Monday, November 25th. They issued an “equal weight” rating and a $27.00 price objective on the stock. One investment 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.80.

MARA Stock Down 2.0 %

Shares of MARA opened at $19.96 on Thursday. The stock’s 50-day moving average price is $21.40 and its two-hundred day moving average price is $19.34. MARA has a 12 month low of $13.16 and a 12 month high of $34.09. The company has a market capitalization of $6.42 billion, a PE ratio of 25.27 and a beta of 5.63. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last announced its 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 the consensus estimate 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 was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, analysts anticipate that MARA will post -1.02 EPS for the current year.

Insider Transactions at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $392,450.00. Following the completion of the transaction, the chief financial officer now owns 1,836,129 shares in the company, valued at $43,149,031.50. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $646,367.50. Following the sale, the chief executive officer now owns 4,128,090 shares in the company, valued at approximately $97,010,115. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,615 shares of company stock worth $3,258,686 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Truvestments Capital LLC purchased a new position in shares of MARA in the third quarter worth $26,000. 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. Capital Performance Advisors LLP purchased a new stake in shares of MARA during the third quarter worth about $50,000. Finally, Tobam increased its holdings in MARA by 173.0% during the 3rd quarter. Tobam now owns 7,701 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 4,880 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.