MARA (NASDAQ:MARA) Price Target Lowered to $23.00 at Piper Sandler

MARA (NASDAQ:MARA) had its price target dropped by analysts at Piper Sandler from $30.00 to $23.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 74.71% from the company’s previous close.

MARA has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of MARA in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of MARA from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Rosenblatt Securities started coverage on shares of MARA in a research note on Friday, March 7th. They set a “buy” rating and a $19.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of MARA in a research report on Thursday, February 27th. Finally, Barclays cut their price objective on MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.55.

MARA Trading Up 0.6 %

Shares of NASDAQ:MARA opened at $13.17 on Monday. MARA has a twelve month low of $9.81 and a twelve month high of $30.28. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.63 billion, a P/E ratio of 16.66 and a beta of 6.82. The company has a 50 day moving average of $13.04 and a 200-day moving average of $17.33.

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

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,910,843 shares of the company’s stock, valued at approximately $65,232,861.24. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the sale, the chief financial officer now owns 1,773,788 shares of the company’s stock, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On MARA

Several institutional investors have recently bought and sold shares of MARA. Capital Advisors Inc. OK acquired a new position in shares of MARA during the 4th quarter valued at about $699,000. Arkadios Wealth Advisors bought a new stake in MARA during the fourth quarter worth approximately $231,000. Foundations Investment Advisors LLC grew its holdings in MARA by 61.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 111,917 shares of the business services provider’s stock valued at $1,877,000 after purchasing an additional 42,494 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MARA by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after purchasing an additional 372,094 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of MARA by 17.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 899,004 shares of the business services provider’s stock worth $15,076,000 after buying an additional 135,133 shares during the last quarter. 44.53% of the stock is currently owned by 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.