Marathon Digital Holdings, Inc. (MARA) closed the most recent trading day at $8.06, moving -2.18% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.47%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.9%.
The company's shares have seen a decrease of 19.37% over the last month, not keeping up with the Finance sector's gain of 0.35% and the S&P 500's loss of 0.16%.
The upcoming earnings release of Marathon Digital Holdings, Inc. will be of great interest to investors. 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. Alongside, our most recent consensus estimate is anticipating revenue of $238.43 million, indicating a 11.21% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.23 per share and a revenue of $942.28 million, representing changes of -113.37% and +43.56%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Marathon Digital Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Marathon Digital Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 32% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Marathon Digital Holdings, Inc. (MARA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
