Mara Stock Rallies 10% on Morgan Stanley Price Target Boost
MARATHON Digital Holdings, Inc., with ticker MARA, saw its stock surge over 10% during Friday's morning session, reaching $12.61. This price increase follows Morgan Stanley's decision to nearly double its price objective from $6 to $11, although the firm still maintains an Underweight stance.
The company's recent quarterly results were disappointing, with a $1.60 per share loss versus analyst expectations for $0.17 profit. Revenue totaled $174.88 million, falling short of the $209.44 million consensus estimate and declining 26.7% year-over-year.
H.C. Wainwright launched coverage with a Buy recommendation and $20 price objective, highlighting Marathon's strategic shift toward AI data centers. This transformation involves a proposed acquisition of Long Ridge Energy and a collaborative venture with Starwood Capital to convert mining locations into advanced computing facilities.