MARA (NASDAQ:MARA) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of MARA (NASDAQ:MARA) from an underweight rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $23.00 target price on the business services provider’s stock, up from their previous target price of $12.00.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of MARA in a report on Wednesday, November 13th. Compass Point lowered shares of MARA from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $21.00 to $25.00 in a report on Thursday, November 21st. Macquarie lifted their target price on shares of MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of MARA in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald assumed coverage on MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, MARA presently has an average rating of “Hold” and a consensus price target of $24.56.

MARA Trading Down 3.0 %

Shares of MARA opened at $22.58 on Tuesday. MARA has a 12-month low of $13.16 and a 12-month high of $34.09. The firm has a market capitalization of $7.27 billion, a P/E ratio of 28.58 and a beta of 5.63. The firm has a 50-day moving average price of $20.62 and a 200 day moving average price of $19.26. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $140.26 million. During the same period last year, the company earned ($0.05) EPS. The business’s quarterly revenue was up 34.4% on a year-over-year basis. Sell-side analysts forecast that MARA will post -1.02 EPS for the current year.

Insider Transactions at MARA

In other MARA news, Director Jay P. Leupp sold 6,800 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.90, for a total value of $203,320.00. Following the completion of the transaction, the director now owns 135,756 shares in the company, valued at $4,059,104.40. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,622 shares of company stock valued at $2,890,197. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its position in shares of MARA by 27.7% during the third quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after acquiring an additional 49,062 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in MARA by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after purchasing an additional 217,106 shares during the period. Mutual of America Capital Management LLC raised its stake in MARA by 112.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after acquiring an additional 107,963 shares during the last quarter. Everence Capital Management Inc. purchased a new position in MARA in the 3rd quarter valued at $640,000. Finally, Intech Investment Management LLC purchased a new position in MARA during the third quarter worth about $1,107,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.