Marathon Digital Holdings, Inc. (MARA) closed the latest trading day at $13.64, indicating a -1.09% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw a decrease of 0.53%.
Shares of the company have appreciated by 10.76% over the course of the past month, outperforming the Business Services sector's loss of 2.97% and the S&P 500's loss of 4.03%.
Investors will be eagerly watching for the performance of Marathon Digital Holdings, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.32, reflecting a 433.33% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $227.66 million, indicating a 37.81% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1 per share and a revenue of $974.28 million, signifying shifts of -158.14% and +48.43%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Marathon Digital Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 78.48% lower within the past month. Right now, Marathon Digital Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Marathon Digital Holdings, Inc. (MARA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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