Marathon Digital Holdings, Inc. (MARA) closed at $6.61 in the latest trading session, marking a +0.61% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.22%.
Heading into today, shares of the company had lost 32.34% over the past month, lagging the Business Services sector's loss of 8.64% and the S&P 500's loss of 10.02% in that time.
Wall Street will be looking for positivity from Marathon Digital Holdings, Inc. as it approaches its next earnings report date. On that day, Marathon Digital Holdings, Inc. is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 170.59%. Meanwhile, our latest consensus estimate is calling for revenue of $47.07 million, up 60.53% from the prior-year quarter.
MARA's full-year Zacks Consensus Estimates are calling for earnings of $0.39 per share and revenue of $357.88 million. These results would represent year-over-year changes of -77.06% and +137.85%, respectively.
Investors should also note any recent changes to analyst estimates for Marathon Digital Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 70.47% lower. Marathon Digital Holdings, Inc. is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Marathon Digital Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 17.09. This valuation marks a discount compared to its industry's average Forward P/E of 19.64.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MARA in the coming trading sessions, be sure to utilize Zacks.com.