Marathon Digital Holdings, Inc. (MARA) closed at $9.96 in the latest trading session, marking a -5.14% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.5%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.43%.
Shares of the company have appreciated by 9.49% over the course of the past month, outperforming the Finance sector's loss of 0.96%, and the S&P 500's gain of 0.18%.
Market participants will be closely following the financial results of Marathon Digital Holdings, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.23, showcasing a 118.55% downward movement from the corresponding quarter of the prior 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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Marathon Digital Holdings, Inc. holds a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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