Marathon Digital Holdings, Inc. (NASDAQ:MARA) Receives $19.69 Consensus Target Price from Brokerages

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.69.

MARA has been the topic of a number of recent research reports. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. HC Wainwright cut their price objective on Marathon Digital from $35.00 to $27.00 and set a “buy” rating for the company in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Finally, Chardan Capital reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On Marathon Digital

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after purchasing an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in shares of Marathon Digital during the fourth quarter valued at $11,531,000. Charles Schwab Investment Management Inc. boosted its holdings in Marathon Digital by 29.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after acquiring an additional 410,146 shares during the last quarter. Barclays PLC increased its position in Marathon Digital by 159.2% in the third quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock worth $1,021,000 after purchasing an additional 323,134 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after purchasing an additional 296,776 shares during the period. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Performance

MARA opened at $20.08 on Friday. The stock has a market cap of $5.48 billion, a PE ratio of 9.34 and a beta of 5.38. Marathon Digital has a 1 year low of $7.16 and a 1 year high of $34.09. The stock’s 50 day simple moving average is $18.98 and its 200-day simple moving average is $19.20. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The business had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Sell-side analysts forecast that Marathon Digital will post -0.17 EPS for the current year.

Marathon Digital Company Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.