B. Riley Raises MARA (NASDAQ:MARA) Price Target to $23.00

MARA (NASDAQ:MARA - Get Free Report) had its price objective hoisted by stock analysts at B. Riley from $21.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. B. Riley's price objective indicates a potential upside of 12.91% from the company's current price.

A number of other research analysts have also recently issued reports on the stock. Compass Point cut shares of MARA from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $21.00 to $25.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. upgraded 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 note on Tuesday, December 10th. HC Wainwright restated a "buy" rating and issued a $28.00 target price on shares of MARA in a report on Wednesday, December 4th. Macquarie upped their price target on MARA from $22.00 to $29.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Finally, Piper Sandler started coverage on MARA in a research note on Tuesday. They set an "overweight" rating and a $34.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, MARA currently has a consensus rating of "Hold" and an average price target of $25.80.

MARA Stock Down 5.7 %

Shares of MARA stock traded down $1.24 on Thursday, reaching $20.37. 47,505,469 shares of the company were exchanged, compared to its average volume of 56,821,527. MARA has a one year low of $13.16 and a one year high of $34.09. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 25.78 and a beta of 5.63. The company has a 50-day moving average of $21.22 and a 200-day moving average of $19.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

MARA (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data 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 net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same period last year, the business posted ($0.05) EPS. The company's revenue was up 34.4% on a year-over-year basis. Analysts anticipate that MARA will post -1.02 earnings per share for the current year.

Insider Transactions at MARA

In related news, Director Jay P. Leupp sold 11,200 shares of the firm'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 transaction, the director now directly owns 142,556 shares of the company's stock, valued at approximately $3,857,565.36. This trade represents a 7.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 181,127 shares of company stock worth $3,690,624 in the last quarter. Insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On MARA

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in MARA by 261.1% in 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 purchasing an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in MARA by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider's stock valued at $40,485,000 after buying an additional 1,327,969 shares during the period. Principal Financial Group Inc. grew its position in MARA by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider's stock worth $26,892,000 after buying an additional 1,324,625 shares in the last quarter. Public Sector Pension Investment Board bought a new position in MARA in the 2nd quarter worth about $11,920,000. Finally, Rhumbline Advisers raised its holdings 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 valued at $15,615,000 after acquiring an additional 439,309 shares in the last quarter. 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.