Marathon Digital Holdings, Inc. (NASDAQ:MARA) to Post Q1 2022 Earnings of $0.31 Per Share, DA Davidson Forecasts

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) – DA Davidson raised their Q1 2022 earnings per share estimates for Marathon Digital in a report released on Tuesday, April 19th. DA Davidson analyst C. Brendler now expects that the business services provider will post earnings of $0.31 per share for the quarter, up from their prior estimate of $0.28. DA Davidson also issued estimates for Marathon Digital’s FY2022 earnings at $3.18 EPS and FY2023 earnings at $7.04 EPS.

Several other brokerages have also weighed in on MARA. Compass Point raised their target price on Marathon Digital from $48.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 8th. HC Wainwright restated a “buy” rating on shares of Marathon Digital in a research report on Tuesday, January 4th. Jefferies Financial Group assumed coverage on shares of Marathon Digital in a research report on Friday, January 28th. They issued a “buy” rating and a $51.00 target price on the stock. Zacks Investment Research raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research report on Friday, April 8th. Finally, B. Riley dropped their price objective on Marathon Digital from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Buy” and a consensus target price of $58.83.

Shares of NASDAQ MARA opened at $20.72 on Thursday. The business has a 50-day moving average of $25.13 and a two-hundred day moving average of $35.67. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -60.94 and a beta of 4.60. Marathon Digital has a 1 year low of $18.32 and a 1 year high of $83.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 49.89 and a quick ratio of 49.89.

Marathon Digital (NASDAQ:MARAGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The business services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $60.28 million for the quarter, compared to analyst estimates of $60.23 million. Marathon Digital had a negative net margin of 24.04% and a positive return on equity of 18.77%.

A number of institutional investors have recently bought and sold shares of MARA. Sterling Investment Advisors Ltd. increased its holdings in shares of Marathon Digital by 93.3% in the third quarter. Sterling Investment Advisors Ltd. now owns 802 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 387 shares during the period. Atticus Wealth Management LLC acquired a new stake in Marathon Digital during the 3rd quarter valued at $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Marathon Digital in the third quarter valued at $32,000. Wells Fargo & Company MN lifted its holdings in Marathon Digital by 56.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,307 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 471 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in shares of Marathon Digital by 3,851.9% during the fourth quarter. Carroll Financial Associates Inc. now owns 1,067 shares of the business services provider’s stock valued at $42,000 after buying an additional 1,040 shares during the period. 36.83% of the stock is owned by institutional investors.

About Marathon Digital (Get Rating)

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

Further Reading

Earnings History and Estimates for Marathon Digital (NASDAQ:MARA)

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