MARA (NASDAQ:MARA) Upgraded to “Neutral” at JPMorgan Chase & Co.

MARA (NASDAQ:MARA) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $23.00 target price on the business services provider’s stock, up from their prior target price of $12.00. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.56% from the company’s previous close.

A number of other research analysts have also recently commented on MARA. Compass Point cut shares of MARA from a “buy” rating to a “neutral” rating and upped their target price for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Macquarie lifted their target price on shares of MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Barclays initiated coverage on MARA in a research note on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MARA in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.56.

MARA Stock Performance

NASDAQ:MARA opened at $23.85 on Tuesday. The company’s 50-day moving average is $20.16 and its two-hundred day moving average is $19.20. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 30.19 and a beta of 5.63. 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 has a 1-year low of $13.16 and a 1-year high of $34.09.

MARA (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). 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 during the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s revenue was up 34.4% on a year-over-year basis. Analysts forecast that MARA will post -1.02 EPS for the current year.

Insider Activity

In related news, Director Jay P. Leupp sold 6,800 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.90, for a total transaction of $203,320.00. Following the sale, the director now directly owns 135,756 shares in the company, valued at approximately $4,059,104.40. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 4,278,309 shares in the company, 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. Over the last three months, insiders have sold 153,622 shares of company stock worth $2,906,197. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On MARA

Several institutional investors have recently modified their holdings of the company. Private Advisor Group LLC increased its position in MARA by 27.7% during the third quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after buying an additional 49,062 shares during the period. Charles Schwab Investment Management Inc. raised its position in MARA by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after purchasing an additional 217,106 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in MARA by 112.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock worth $3,308,000 after purchasing an additional 107,963 shares during the period. Everence Capital Management Inc. purchased a new position in MARA during the 3rd quarter worth $640,000. Finally, Intech Investment Management LLC acquired a new position in MARA in the third quarter valued at $1,107,000. 44.53% of the stock is owned by hedge funds and other 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.