Marathon Digital Holdings Inc (NASDAQ: MARA) Stock Forecast: An Analysis

In the last trading session, 26.52 million Marathon Digital Holdings Inc (NASDAQ:MARA) shares changed hands as the company’s beta touched 5.06. With the company’s per share price at $10.00 changed hands at $0.24 or 2.46% during last session, the market valuation stood at $2.23B. MARA’s last price was a discount, traded about -98.8% off its 52-week high of $19.88. The share price had its 52-week low at $3.11, which suggests the last value was 68.9% up since then. When we look at Marathon Digital Holdings Inc’s average trading volume, we note the 10-day average is 42.87 million shares, with the 3-month average coming to 32.91 million.

Analysts gave the Marathon Digital Holdings Inc (MARA) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 1 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended MARA as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Marathon Digital Holdings Inc’s EPS for the current quarter is expected to be -$0.05.

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Marathon Digital Holdings Inc (NASDAQ:MARA) trade information

Instantly MARA was in green as seen at the end of in last trading. With action 4.06%, the performance over the past five days has been green. The jump to weekly highs of 10.43 on Friday, 11/17/23 added 2.46% to the stock’s daily price. The company’s shares are showing year-to-date upside of 192.40%, with the 5-day performance at 4.06% in the green. However, in the 30-day time frame, Marathon Digital Holdings Inc (NASDAQ:MARA) is 29.70% up. Looking at the short shares, we see there were 53.04 million shares sold at short interest cover period of 1.5 days.

The consensus price target for the stock as assigned by Wall Street analysts is $11.26, meaning bulls need an upside of 11.19% from its current market value. According to analyst projections, MARA’s forecast low is $7.00 with $20.00 as the target high. To hit the forecast high, the stock’s price needs a -100.0% plunge from its current level, while the stock would need to tank 30.0% for it to hit the projected low.

Marathon Digital Holdings Inc (MARA) estimates and forecasts

Data shows that the Marathon Digital Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.99% over the past 6 months, a 92.90% in annual growth rate that is considerably higher than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Marathon Digital Holdings Inc will rise 90.60%, while the growth in revenue is estimated to hit 160.00% for the next quarter. Year-over-year growth is forecast to reach 205.80% up from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $128.29 million. 5 analysts are of the opinion that Marathon Digital Holdings Inc’s revenue for the quarter ending Mar 2024 will be $144.55 million. The company’s revenue for the corresponding quarters a year ago was $28.42 million and $51.13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 351.50%. The estimates for the next quarter sales put growth at 182.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 20.62%. The 2023 estimates are for Marathon Digital Holdings Inc earnings to increase by 99.56%, but the outlook for the next 5-year period is at 50.00% per year.

MARA Dividends

Marathon Digital Holdings Inc is expected to release its next quarterly earnings report on November 08.

Marathon Digital Holdings Inc (NASDAQ:MARA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 3.50% of Marathon Digital Holdings Inc shares while 36.18% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 37.49%. There are 36.18% institutions holding the Marathon Digital Holdings Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 8.32% of the shares, roughly 18.52 million MARA shares worth $185.23 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.64% or 12.56 million shares worth $125.63 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 5.03 million shares estimated at $50.28 million under it, the former controlled 2.26% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.84% of the shares, roughly 4.1 million shares worth around $41.05 million.

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