MARA (NASDAQ:MARA) Price Target Cut to $30.00 by Analysts at Piper Sandler

MARA (NASDAQ:MARA - Free Report) had its price objective reduced by Piper Sandler from $34.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the business services provider's stock.

MARA has been the topic of a number of other reports. B. Riley upped their price target on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Barclays dropped their target price on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a report on Monday. HC Wainwright reissued a "buy" rating and set a $28.00 price target on shares of MARA in a research note on Thursday, February 27th. JPMorgan Chase & Co. upgraded MARA from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $12.00 to $23.00 in a report on Tuesday, December 10th. Finally, Compass Point cut MARA from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $21.00 to $25.00 in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.78.

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MARA Stock Performance

NASDAQ:MARA traded down $0.03 during mid-day trading on Monday, reaching $15.09. The stock had a trading volume of 47,049,832 shares, compared to its average volume of 38,860,141. MARA has a twelve month low of $12.05 and a twelve month high of $30.28. The business has a 50 day simple moving average of $17.18 and a 200 day simple moving average of $18.41. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 19.10 and a beta of 5.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, beating the consensus estimate of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $214.39 million during the quarter, compared to analysts' expectations of $187.11 million. On average, analysts expect that MARA will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.50, for a total value of $392,450.00. Following the transaction, the chief financial officer now directly owns 1,836,129 shares in the company, valued at approximately $43,149,031.50. This represents a 0.90 % decrease in their position. 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 the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $18.01, for a total transaction of $495,365.05. Following the sale, the chief executive officer now directly owns 4,100,585 shares in the company, valued at $73,851,535.85. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,915 shares of company stock worth $2,289,443 over the last three months. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of MARA by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after buying an additional 2,706,271 shares during the last quarter. Geode Capital Management LLC grew its position in MARA by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock valued at $128,755,000 after acquiring an additional 518,503 shares during the period. American Century Companies Inc. increased its stake in MARA by 44.3% during the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock worth $67,749,000 after acquiring an additional 1,240,354 shares during the last quarter. Northern Trust Corp increased its stake 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 worth $55,233,000 after acquiring an additional 504,142 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of MARA by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock worth $50,787,000 after purchasing an additional 372,094 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

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.