In the latest trading session, Marathon Digital Holdings, Inc. (MARA) closed at $16.75, marking a -5.15% move from the previous day. This change lagged the S&P 500's 0.79% loss on the day. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq lost 0.92%.
Prior to today's trading, shares of the company had gained 11.91% outpaced the Finance sector's gain of 4.61% and the S&P 500's gain of 5.22%.
Market participants will be closely following the financial results of Marathon Digital Holdings, Inc. in its upcoming release. In that report, analysts expect Marathon Digital Holdings, Inc. to post earnings of -$0.41 per share. This would mark a year-over-year decline of 70.83%. Alongside, our most recent consensus estimate is anticipating revenue of $217.59 million, indicating a 49.92% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.76 per share and a revenue of $890.83 million, demonstrating changes of -202.33% and +35.72%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marathon Digital Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 28.28% increase. 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. This industry, currently bearing a Zacks Industry Rank of 143, finds itself in the bottom 43% echelons 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.
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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