MARA (NASDAQ:MARA) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of MARA (NASDAQ:MARA) from an underweight rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. They currently have $23.00 target price on the business services provider’s stock, up from their prior target price of $12.00.

MARA has been the topic of several other reports. Cantor Fitzgerald started coverage on shares of MARA in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target on the stock. Macquarie upped their target price on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of MARA in a research report on Wednesday, December 4th. Compass Point lowered 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 research report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.56.

MARA Stock Performance

Shares of MARA opened at $22.81 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The stock has a 50-day moving average of $20.32 and a two-hundred day moving average of $19.21. The stock has a market cap of $7.34 billion, a P/E ratio of 28.87 and a beta of 5.63. MARA has a one year low of $13.16 and a one year high of $34.09.

MARA (NASDAQ:MARA) last issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned ($0.05) EPS. MARA’s quarterly revenue was up 34.4% on a year-over-year basis. As a group, research analysts predict that MARA will post -1.02 EPS for the current year.

Insider Buying and Selling at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jay P. Leupp sold 11,200 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $27.06, for a total transaction of $303,072.00. Following the sale, the director now directly owns 142,556 shares of the company’s stock, valued at $3,857,565.36. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,622 shares of company stock valued at $2,906,197 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On MARA

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. Franklin Resources Inc. raised its holdings in MARA by 62.5% in the 3rd quarter. Franklin Resources Inc. now owns 31,621 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 12,157 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of MARA by 4.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 79,650 shares of the business services provider’s stock valued at $1,292,000 after purchasing an additional 3,200 shares during the last quarter. Geode Capital Management LLC lifted its position in MARA by 5.6% during the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after buying an additional 378,542 shares in the last quarter. M&T Bank Corp grew its holdings in MARA by 14.1% in the 3rd quarter. M&T Bank Corp now owns 19,571 shares of the business services provider’s stock valued at $317,000 after buying an additional 2,418 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of MARA in the 3rd quarter worth $1,072,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.