MARA (NASDAQ:MARA) Releases Earnings Results, Misses Estimates By $0.04 EPS

MARA (NASDAQ:MARA - Get Free Report) released its quarterly earnings data on Tuesday. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04), Briefing.com reports. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $131.60 million for the quarter, compared to analysts' expectations of $140.26 million. During the same period last year, the business earned ($0.05) earnings per share. The company's quarterly revenue was up 34.4% on a year-over-year basis.

MARA Price Performance

MARA traded up $0.28 on Friday, hitting $21.07. 42,654,260 shares of the company's stock traded hands, compared to its average volume of 54,079,977. The company's 50 day simple moving average is $17.38 and its 200-day simple moving average is $18.58. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. MARA has a one year low of $9.21 and a one year high of $34.09. The company has a current ratio of 4.00, a quick ratio of 3.75 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the transaction, the chief financial officer now owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company's stock, valued at approximately $67,169,451.30. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,524,546 in the last quarter. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MARA has been the topic of several research reports. Macquarie initiated coverage on MARA in a research report on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on MARA from $14.00 to $12.00 and set an "underweight" rating on the stock in a research report on Friday, August 23rd. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of MARA in a research report on Wednesday. Cantor Fitzgerald initiated coverage on MARA in a research report on Thursday, October 10th. They issued an "overweight" rating and a $21.00 target price on the stock. Finally, Needham & Company LLC reissued a "hold" rating on shares of MARA in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MARA currently has an average rating of "Hold" and an average price target of $21.57.

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.