Marathon Digital Holdings, Inc. (MARA) closed at $10.56 in the latest trading session, marking a +1.83% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 1.16%. Meanwhile, the Dow gained 1.21%, and the Nasdaq, a tech-heavy index, added 1.18%.
Heading into today, shares of the company had gained 5.17% over the past month, outpacing the Finance sector's loss of 0.5% and the S&P 500's loss of 0.42%.
The upcoming earnings release of Marathon Digital Holdings, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.23, marking a 118.55% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $241.04 million, indicating a 12.43% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.23 per share and a revenue of $944.89 million, representing changes of -113.37% and 0%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marathon Digital Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Marathon Digital Holdings, Inc. is currently a Zacks Rank #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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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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