MARA’s (MARA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of MARA (NASDAQ:MARA) in a research note published on Wednesday morning,Benzinga reports.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. dropped their price target on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Macquarie started coverage on MARA in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. Cantor Fitzgerald started coverage on MARA in a research report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of MARA in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MARA currently has a consensus rating of “Hold” and a consensus price target of $21.57.

MARA Price Performance

Shares of MARA stock traded up $0.28 during trading on Wednesday, reaching $21.07. 42,768,842 shares of the stock traded hands, compared to its average volume of 54,079,977. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. The business has a fifty day simple moving average of $17.38 and a two-hundred day simple moving average of $18.58. 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 has a 52-week low of $9.21 and a 52-week high of $34.09.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The firm had revenue of $131.60 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned ($0.05) EPS. Sell-side analysts expect that MARA will post -1.05 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The trade was a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred 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 of the company’s stock, valued at $67,169,451.30. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock valued at $1,524,546 over the last 90 days. Insiders own 0.97% of the company’s stock.

Institutional Trading of MARA

Several institutional investors and hedge funds have recently modified their holdings of MARA. Swiss National Bank increased its holdings in MARA by 5.4% during the first quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock valued at $9,926,000 after buying an additional 22,600 shares during the period. ProShare Advisors LLC grew its holdings in MARA by 13.3% in the first quarter. ProShare Advisors LLC now owns 41,626 shares of the business services provider’s stock worth $940,000 after purchasing an additional 4,873 shares during the last quarter. Vanguard Group Inc. grew its holdings in MARA by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after purchasing an additional 441,455 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of MARA by 4.1% during the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after buying an additional 881 shares during the last quarter. Finally, American International Group Inc. grew its holdings in shares of MARA by 4.3% during the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after buying an additional 4,593 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

About MARA

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.