MARA (NASDAQ:MARA) Price Target Raised to $23.00 at B. Riley

MARA (NASDAQ:MARA) had its target price raised by research analysts at B. Riley from $21.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. B. Riley’s price objective points to a potential upside of 8.18% from the stock’s current price.

Several other brokerages also recently weighed in on MARA. JPMorgan Chase & Co. upgraded MARA from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $12.00 to $23.00 in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Barclays initiated 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 for the company. Piper Sandler started coverage on shares of MARA in a report on Tuesday. They set an “overweight” rating and a $34.00 target price on the stock. Finally, Compass Point downgraded MARA from a “buy” rating to a “neutral” rating and increased their price target for the company from $21.00 to $25.00 in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.80.

MARA Price Performance

NASDAQ MARA traded down $0.35 during mid-day trading on Thursday, hitting $21.26. The stock had a trading volume of 22,293,410 shares, compared to its average volume of 56,713,082. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 26.91 and a beta of 5.63. MARA has a 52-week low of $13.16 and a 52-week high of $34.09. The company has a 50 day simple moving average of $21.22 and a 200 day simple moving average of $19.34.

MARA (NASDAQ:MARA) last announced its earnings results 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). The company had revenue of $131.60 million for 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%. MARA’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. Equities analysts forecast that MARA will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’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 transaction of $646,367.50. Following the sale, the chief executive officer now directly owns 4,128,090 shares of the company’s stock, valued at approximately $97,010,115. This represents a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $292,250.00. Following the sale, the chief financial officer now directly owns 2,077,232 shares in the company, valued at $36,351,560. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,127 shares of company stock worth $3,690,624. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

Several large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in shares of MARA by 62.5% in the third quarter. Franklin Resources Inc. now owns 31,621 shares of the business services provider’s stock valued at $537,000 after purchasing an additional 12,157 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of MARA by 4.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 79,650 shares of the business services provider’s stock valued at $1,292,000 after purchasing an additional 3,200 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MARA by 5.6% in the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after acquiring an additional 378,542 shares in the last quarter. M&T Bank Corp lifted its position in shares of MARA by 14.1% in the 3rd quarter. M&T Bank Corp now owns 19,571 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 2,418 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in MARA during the 3rd quarter worth approximately $1,072,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.