Marathon Digital Holdings, Inc. (MARA) Falls More Steeply Than Broader Market: What Investors Need to Know

Marathon Digital Holdings, Inc. (MARA) closed at $19.51 in the latest trading session, marking a -2.3% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.01%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq gained 0.05%.

Coming into today, shares of the company had gained 37.82% in the past month. In that same time, the Finance sector gained 4.74%, while the S&P 500 gained 5.37%.

The investment community will be closely monitoring the performance of Marathon Digital Holdings, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.49, signifying a 104.17% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $220.24 million, indicating a 51.74% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of -$2.36 per share and a revenue of $897.93 million, demonstrating changes of -237.21% and +36.8%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for Marathon Digital Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.82% higher. At present, Marathon Digital Holdings, Inc. boasts a Zacks Rank of #3 (Hold).

The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 90, putting 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research