JPMorgan Chase & Co. Lowers Marathon Digital (NASDAQ:MARA) Price Target to $20.00

Marathon Digital (NASDAQ:MARA) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $22.00 to $20.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 23.99% from the stock’s previous close.

MARA has been the subject of several other reports. Piper Sandler upped their price objective on Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Compass Point assumed coverage on Marathon Digital in a report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. BTIG Research restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Macquarie upped their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.30.

Marathon Digital Trading Up 0.4%

NASDAQ MARA opened at $16.13 on Friday. Marathon Digital has a 52 week low of $9.81 and a 52 week high of $30.28. The firm has a 50 day moving average of $16.38 and a two-hundred day moving average of $15.25. The stock has a market capitalization of $5.98 billion, a PE ratio of 14.53 and a beta of 6.35. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. The company’s revenue was up 64.0% compared to the same quarter last year. As a group, research analysts expect that Marathon Digital will post -1.04 EPS for the current fiscal year.

Insider Activity at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the sale, the director owned 58,103 shares in the company, valued at $884,327.66. This represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total transaction of $478,036.90. Following the completion of the transaction, the chief executive officer owned 3,755,789 shares in the company, valued at approximately $65,275,612.82. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,598 shares of company stock worth $3,483,548 in the last 90 days. 0.80% of the stock is owned by insiders.

Institutional Trading of Marathon Digital

Hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Marathon Digital by 33.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 579,408 shares of the business services provider’s stock valued at $9,717,000 after purchasing an additional 145,953 shares during the period. Mackenzie Financial Corp grew its position in Marathon Digital by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock valued at $304,000 after buying an additional 878 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Marathon Digital in the 4th quarter valued at $27,000. California State Teachers Retirement System raised its position in Marathon Digital by 2.9% during the 4th quarter. California State Teachers Retirement System now owns 274,676 shares of the business services provider’s stock worth $4,606,000 after buying an additional 7,864 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Marathon Digital by 1,726.2% in the 4th quarter. Wellington Management Group LLP now owns 716,430 shares of the business services provider’s stock worth $12,015,000 after acquiring an additional 677,199 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital 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.