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Here's Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
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In the latest trading session, Marathon Digital Holdings, Inc. (MARA - Free Report) closed at $7.24, marking a -7.04% move from the previous day. This change lagged the S&P 500's 1.21% loss on the day. Meanwhile, the Dow experienced a rise of 0.02%, and the technology-dominated Nasdaq saw a decrease of 2.6%.
The company's shares have seen a decrease of 41.65% over the last month, not keeping up with the Finance sector's loss of 1.78% and the S&P 500's loss of 0.03%.
The upcoming earnings release of Marathon Digital Holdings, Inc. will be of great interest to investors. In that report, analysts expect Marathon Digital Holdings, Inc. to post earnings of -$0.04 per share. This would mark year-over-year growth of 87.5%. Meanwhile, our latest consensus estimate is calling for revenue of $209.57 million, down 16.97% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$5.25 per share and revenue of $809.8 million, which would represent changes of -42.28% and -10.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Marathon Digital Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Marathon Digital Holdings, Inc. is carrying 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 171, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MARA in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Here's Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
In the latest trading session, Marathon Digital Holdings, Inc. (MARA - Free Report) closed at $7.24, marking a -7.04% move from the previous day. This change lagged the S&P 500's 1.21% loss on the day. Meanwhile, the Dow experienced a rise of 0.02%, and the technology-dominated Nasdaq saw a decrease of 2.6%.
The company's shares have seen a decrease of 41.65% over the last month, not keeping up with the Finance sector's loss of 1.78% and the S&P 500's loss of 0.03%.
The upcoming earnings release of Marathon Digital Holdings, Inc. will be of great interest to investors. In that report, analysts expect Marathon Digital Holdings, Inc. to post earnings of -$0.04 per share. This would mark year-over-year growth of 87.5%. Meanwhile, our latest consensus estimate is calling for revenue of $209.57 million, down 16.97% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$5.25 per share and revenue of $809.8 million, which would represent changes of -42.28% and -10.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Marathon Digital Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Marathon Digital Holdings, Inc. is carrying 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 171, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MARA in the coming trading sessions, be sure to utilize Zacks.com.