MARA (NASDAQ:MARA) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

MARA (NASDAQ:MARA) posted its quarterly earnings results on Tuesday. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04), Briefing.com reports. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same period last year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 34.4% on a year-over-year basis.

MARA Price Performance

Shares of MARA stock traded down $0.14 during mid-day trading on Friday, reaching $20.65. 20,303,801 shares of the stock traded hands, compared to its average volume of 53,979,848. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. MARA has a fifty-two week low of $9.21 and a fifty-two week high of $34.09. The stock has a market capitalization of $6.65 billion, a PE ratio of 25.48 and a beta of 5.52. The business has a 50-day moving average of $17.23 and a 200 day moving average of $18.56.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of MARA in a report on Wednesday. Macquarie started coverage on shares of MARA in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday. Finally, Cantor Fitzgerald initiated coverage on MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.57.

Insider Buying and Selling at MARA

In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,278,309 shares of the company’s stock, 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 sold a total of 91,417 shares of company stock worth $1,524,546 in the last three months. 0.97% of the stock is owned by corporate insiders.

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.