JPMorgan Chase & Co. Upgrades MARA (NASDAQ:MARA) to "Neutral"

JPMorgan Chase & Co. upgraded shares of MARA (NASDAQ:MARA - Free Report) from an underweight rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $23.00 target price on the business services provider's stock, up from their prior target price of $12.00.

A number of other equities analysts have also commented on MARA. Macquarie boosted their price objective on MARA from $22.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of MARA in a research report on Wednesday, December 4th. Compass Point lowered shares of MARA from a "buy" rating to a "neutral" rating and raised their price target for the company from $21.00 to $25.00 in a report on Thursday, November 21st. Needham & Company LLC restated a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald started coverage on MARA in a research report on Thursday, October 10th. They issued an "overweight" rating and a $21.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, MARA currently has an average rating of "Hold" and an average price target of $24.56.

MARA Price Performance

Shares of MARA stock traded down $1.05 during trading on Tuesday, hitting $22.81. 43,658,849 shares of the company's stock traded hands, compared to its average volume of 56,902,941. The company has a market cap of $7.34 billion, a PE ratio of 30.04 and a beta of 5.63. The firm's fifty day moving average price is $20.16 and its 200 day moving average price is $19.20. MARA has a twelve month low of $13.16 and a twelve month high of $34.09. 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 posted 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). 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 for the quarter, compared to the consensus estimate of $140.26 million. During the same quarter last year, the business earned ($0.05) EPS. MARA's quarterly revenue was up 34.4% compared to the same quarter last year. Analysts forecast that MARA will post -1.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company's stock, valued at approximately $33,022,547.90. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company's stock, valued at approximately $67,169,451.30. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,622 shares of company stock worth $2,906,197. Company insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On MARA

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. acquired a new stake in shares of MARA during the 2nd quarter worth $293,000. AlphaMark Advisors LLC bought a new position in MARA in the 2nd quarter valued at about $379,000. Assenagon Asset Management S.A. bought a new position in MARA in the 2nd quarter valued at about $1,890,000. Brookstone Capital Management lifted its holdings in shares of MARA by 17.9% during the 2nd quarter. Brookstone Capital Management now owns 98,166 shares of the business services provider's stock worth $1,949,000 after acquiring an additional 14,879 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of MARA by 56.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,931 shares of the business services provider's stock worth $1,150,000 after acquiring an additional 20,861 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.