Piper Sandler Begins Coverage on MARA (NASDAQ:MARA)

Research analysts at Piper Sandler began coverage on shares of MARA (NASDAQ:MARA) in a report released on Tuesday, Marketbeat.com reports. The firm set an “overweight” rating and a $34.00 price target on the business services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 57.33% from the stock’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. Cantor Fitzgerald initiated coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of MARA in a research report on Wednesday, December 4th. Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. Finally, Barclays assumed coverage on shares of MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.50.

MARA Stock Performance

MARA stock opened at $21.61 on Tuesday. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 27.35 and a beta of 5.63. MARA has a 12 month low of $13.16 and a 12 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. The stock’s 50-day moving average is $21.09 and its 200-day moving average is $19.32.

MARA (NASDAQ:MARA) last posted its quarterly 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 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 analysts’ expectations of $140.26 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The company’s quarterly revenue was up 34.4% on a year-over-year basis. Equities analysts anticipate that MARA will post -1.02 earnings per share for the current year.

Insider Buying and Selling at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $646,367.50. Following the completion of the sale, the chief executive officer now directly owns 4,128,090 shares in the company, valued at approximately $97,010,115. The trade was a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay P. Leupp sold 11,200 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $27.06, for a total value of $303,072.00. Following the transaction, the director now owns 142,556 shares in the company, valued at $3,857,565.36. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,127 shares of company stock worth $3,690,624 in the last ninety days. 0.97% of the stock is owned by insiders.

Institutional Trading of MARA

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of MARA by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares during the period. Bank of New York Mellon Corp boosted its stake in MARA by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares during the period. Principal Financial Group Inc. grew its holdings in shares of MARA by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of MARA during the 2nd quarter worth approximately $11,920,000. Finally, Rhumbline Advisers lifted its holdings in shares of MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares during 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.