MARA (NASDAQ:MARA) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler began coverage on shares of MARA (NASDAQ:MARA - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The firm set an "overweight" rating and a $34.00 price target on the business services provider's stock. Piper Sandler's price objective would suggest a potential upside of 38.21% from the stock's previous close.

MARA has been the topic of several other reports. Compass Point cut MARA from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $21.00 to $25.00 in a report on Thursday, November 21st. Cantor Fitzgerald initiated coverage on MARA in a research note on Thursday, October 10th. They issued an "overweight" rating and a $21.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. Macquarie lifted their target price on shares of MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, November 18th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target on shares of MARA in a research note on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $25.50.

MARA Stock Performance

Shares of MARA stock traded up $0.04 during mid-day trading on Tuesday, hitting $24.60. 61,271,520 shares of the stock were exchanged, compared to its average volume of 56,865,234. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The company has a market capitalization of $7.92 billion, a P/E ratio of 31.28 and a beta of 5.63. The company has a 50-day simple moving average of $20.92 and a 200 day simple moving average of $19.29. MARA has a 12 month low of $13.16 and a 12 month high of $34.09.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company had revenue of $131.60 million during the quarter, compared to analysts' expectations of $140.26 million. During the same period in the prior year, the firm earned ($0.05) EPS. MARA's quarterly revenue was up 34.4% on a year-over-year basis. Sell-side analysts anticipate that MARA will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at MARA

In related news, Director Jay P. Leupp sold 6,800 shares of MARA stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the completion of the transaction, the director now directly owns 135,756 shares in the company, valued at $4,059,104.40. The trade was a 4.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the sale, the chief financial officer now directly owns 2,077,232 shares of the company's stock, valued at approximately $36,351,560. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,922 shares of company stock valued at $2,651,807. Corporate insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On MARA

A number of hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of MARA during the third quarter worth approximately $26,000. Larson Financial Group LLC boosted its position 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 purchasing an additional 1,062 shares during the period. Signaturefd LLC boosted its stake in MARA by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock valued at $48,000 after purchasing an additional 1,273 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of MARA during the 3rd quarter worth $50,000. Finally, Tobam increased its stake in shares of MARA by 173.0% in 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 last quarter. 44.53% of the stock is currently owned by 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.