MARA (NASDAQ:MARA) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of MARA (NASDAQ:MARA) in a research note issued to investors on Wednesday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Macquarie began coverage on MARA in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of MARA in a research report on Wednesday. Cantor Fitzgerald initiated coverage on shares of MARA in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.57.

MARA Stock Performance

Shares of MARA stock opened at $21.07 on Wednesday. The stock has a market cap of $6.78 billion, a P/E ratio of 26.67 and a beta of 5.52. The company has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $18.60. MARA has a one year low of $9.21 and a one year 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 3.75.

MARA (NASDAQ:MARA) last issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The company’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. As a group, equities analysts predict that MARA will post -1.05 EPS for the current year.

Insider Buying and Selling

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the transaction, the chief executive officer now owns 4,250,804 shares in the company, valued at $74,389,070. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its stake in MARA by 5.4% during the first quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock worth $9,926,000 after buying an additional 22,600 shares in the last quarter. ProShare Advisors LLC increased its stake in MARA by 13.3% in the first quarter. ProShare Advisors LLC now owns 41,626 shares of the business services provider’s stock valued at $940,000 after acquiring an additional 4,873 shares during the last quarter. Vanguard Group Inc. raised its position in MARA by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after purchasing an additional 881 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in shares of MARA by 4.3% in the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 4,593 shares in the last quarter. 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.