MARA (NASDAQ:MARA) Given New $29.00 Price Target at Macquarie

MARA (NASDAQ:MARA) had its target price increased by Macquarie from $22.00 to $29.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of MARA in a research report on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on shares of MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, MARA presently has a consensus rating of “Hold” and a consensus price target of $22.57.

MARA Price Performance

Shares of MARA stock opened at $18.11 on Monday. MARA has a 1-year low of $9.88 and a 1-year high of $34.09. The firm’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $18.61. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 22.92 and a beta of 5.52. The company has a current ratio of 4.00, a quick ratio of 3.75 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last announced its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. MARA’s revenue for the quarter was up 34.4% on a year-over-year basis. On average, equities analysts predict that MARA will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,524,546 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

A number of hedge funds and other institutional investors have recently made changes to their positions in MARA. Truvestments Capital LLC acquired a new stake in shares of MARA during the third quarter worth $26,000. Beaird Harris Wealth Management LLC raised its holdings in shares of MARA by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares during the period. Larson Financial Group LLC raised its holdings in shares of MARA by 124.2% during the third quarter. Larson Financial Group LLC now owns 1,917 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,062 shares during the period. Signaturefd LLC raised its holdings in shares of MARA by 74.8% during the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,273 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of MARA during the third quarter worth $50,000. 44.53% of the stock is currently 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.