In the latest trading session, Marathon Digital Holdings, Inc. (MARA) closed at $7.20, marking a +1.27% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the company had 0% over the past month. This has was narrower than the Business Services sector's loss of 1.97% and lagged the S&P 500's gain of 0.07% in that time.
Wall Street will be looking for positivity from Marathon Digital Holdings, Inc. as it approaches its next earnings report date. In that report, analysts expect Marathon Digital Holdings, Inc. to post earnings of -$0.03 per share. This would mark a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $39.2 million, down 24.21% from the prior-year quarter.
MARA's full-year Zacks Consensus Estimates are calling for earnings of $0.30 per share and revenue of $461.75 million. These results would represent year-over-year changes of +116.39% and +292.15%, respectively.
Investors might also notice recent changes to analyst estimates for Marathon Digital Holdings, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 50.21% lower within the past month. Marathon Digital Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Marathon Digital Holdings, Inc. currently has a Forward P/E ratio of 23.9. This valuation marks a premium compared to its industry's average Forward P/E of 20.07.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
