Marathon Digital Holdings, Inc. (MARA) Stock Falls Amid Market Uptick: What Investors Need to Know

Marathon Digital Holdings, Inc. (MARA) closed the latest trading day at $19.31, indicating a -0.05% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.74%.

Shares of the company have appreciated by 25.13% over the course of the past month, outperforming the Business Services sector's gain of 9.12% and the S&P 500's gain of 3.16%.

The investment community will be paying close attention to the earnings performance of Marathon Digital Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on November 12, 2024. In that report, analysts expect Marathon Digital Holdings, Inc. to post earnings of -$0.38 per share. This would mark a year-over-year decline of 660%. Alongside, our most recent consensus estimate is anticipating revenue of $148.14 million, indicating a 51.39% upward movement from the same quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.21 per share and a revenue of $556.03 million, representing changes of -223.53% and +43.49%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Marathon Digital Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Marathon Digital Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 28% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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