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

MARA (NASDAQ:MARA) had its price target decreased by equities research analysts at Piper Sandler from $30.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 74.71% from the company’s current price.

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

MARA Stock Up 0.6 %

Shares of MARA opened at $13.17 on Monday. The firm has a market cap of $4.63 billion, a PE ratio of 16.66 and a beta of 6.82. 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’s fifty day moving average is $13.04 and its two-hundred day moving average is $17.33. MARA has a fifty-two week low of $9.81 and a fifty-two week high of $30.28.

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

Insiders Place Their Bets

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at $65,232,861.24. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the completion of the sale, the chief financial officer now directly owns 1,773,788 shares in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MARA

Several institutional investors have recently modified their holdings of the company. Beacon Capital Management LLC acquired a new position in MARA during the 4th quarter valued at about $26,000. Park Square Financial Group LLC bought a new stake in shares of MARA during the fourth quarter valued at approximately $27,000. Sterling Capital Management LLC boosted its position in shares of MARA by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after buying an additional 1,426 shares during the period. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in MARA by 79.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock worth $33,000 after buying an additional 860 shares in the last quarter. Finally, Spire Wealth Management increased its position in MARA by 26.7% in the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 599 shares during the period. Institutional investors own 44.53% of the company’s stock.

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.