MARA (NASDAQ:MARA) Price Target Cut to $30.00 by Analysts at Piper Sandler

MARA (NASDAQ:MARA) had its target price cut by investment analysts at Piper Sandler from $34.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 104.89% from the stock’s previous close.

Several other research analysts also recently issued reports on MARA. B. Riley upped their price objective on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised MARA from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $23.00 in a report on Tuesday, December 10th. Barclays lowered their price target on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday. 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 research note on Thursday, November 21st. Finally, Macquarie increased their price target on shares of MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, MARA has an average rating of “Hold” and an average price target of $23.78.

MARA Price Performance

MARA stock traded up $0.72 during midday trading on Monday, reaching $14.64. 33,983,940 shares of the company’s stock traded hands, compared to its average volume of 36,896,516. 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 $4.97 billion, a price-to-earnings ratio of 18.56 and a beta of 5.76. The company has a 50-day simple moving average of $17.52 and a two-hundred day simple moving average of $18.46. MARA has a 1-year low of $12.05 and a 1-year high of $30.28.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $1.56. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. On average, analysts anticipate that MARA will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $392,450.00. Following the sale, the chief financial officer now owns 1,836,129 shares in the company, valued at approximately $43,149,031.50. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the transaction, the chief executive officer now directly owns 3,910,843 shares of the company’s stock, valued at $65,232,861.24. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,215 shares of company stock valued at $2,033,766 in the last quarter. 0.80% of the stock is currently owned by insiders.

Institutional Trading of MARA

Several institutional investors and hedge funds have recently added to or reduced their stakes in MARA. Norges Bank acquired a new position in shares of MARA during the 4th quarter worth about $46,413,000. Vanguard Group Inc. grew its holdings in MARA by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider’s stock worth $650,390,000 after purchasing an additional 2,706,271 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MARA by 192.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider’s stock valued at $31,817,000 after buying an additional 1,248,292 shares during the period. American Century Companies Inc. lifted its position in shares of MARA by 44.3% in the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider’s stock valued at $67,749,000 after buying an additional 1,240,354 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of MARA in the fourth quarter valued at approximately $13,416,000. 44.53% of the stock is owned by institutional investors.

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.