Highlights

  • Macquarie lifts price target from USD 26.00 to USD 29.00.
  • Several firms maintain neutral or buy ratings.
  • Consensus rating stands at “Moderate Buy” with USD 24.20 average target.

Macquarie increased its price target for Marathon Digital Holdings (NASDAQ:MARA) from USD 26.00 to USD 29.00. The firm has assigned an “outperform” rating, citing recent performance data. At current price levels, the target suggests an estimated upside potential of about 51%.

Other analysts have issued varied opinions in recent weeks. Weiss Ratings reaffirmed a “hold (c)” status on October 8. JPMorgan Chase & Co. reduced its price target to USD 20.00 from USD 22.00, setting an “overweight” stance on September 26. Guggenheim and Compass Point both launched new coverage, each marking the stock as “neutral.” Rosenblatt Securities raised its target price to USD 25.00 and gave a “buy” rating on October 16.

Currently, seven analysts rate the shares as Buy, while six advise Hold. Data from MarketBeat places the overall consensus at “Moderate Buy,” with a collective target price averaging USD 24.20.

Earnings Overview

Marathon Digital reported quarterly earnings on July 29. The company posted earnings per share (EPS) of USD 1.84, above the estimate of a USD 0.29 loss. Net margin reached 85.02%, while return on equity was negative 2.11%.

Revenue came in at USD 238.50 million, topping the consensus forecast of USD 212.25 million. The figure reflected a 64% year-over-year rise. In the same quarter last year, the firm posted a loss of USD 0.72 per share.

Company Snapshot

Marathon Digital Holdings, now operating as MARA Holdings, Inc, focuses on digital asset mining. The company was founded in 2010 and is headquartered in Fort Lauderdale, Florida. It rebranded from Marathon Digital Holdings, Inc to MARA Holdings, Inc in August 2024.