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Here's Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
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The latest trading session saw Marathon Digital Holdings, Inc. (MARA - Free Report) ending at $16.14, denoting a -1.65% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq appreciated by 0.04%.
The company's stock has dropped by 7.55% in the past month, falling short of the Business Services sector's gain of 4.37% and the S&P 500's gain of 1.95%.
Investors will be eagerly watching for the performance of Marathon Digital Holdings, Inc. in its upcoming earnings disclosure. On that day, Marathon Digital Holdings, Inc. is projected to report earnings of -$0.34 per share, which would represent a year-over-year decline of 580%. Simultaneously, our latest consensus estimate expects the revenue to be $157.52 million, showing a 60.98% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.22 per share and revenue of $652.57 million, indicating changes of -229.41% and +68.4%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.92% decrease. As of now, Marathon Digital Holdings, Inc. holds a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 68, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Marathon Digital Holdings, Inc. (MARA) Fell More Than Broader Market
The latest trading session saw Marathon Digital Holdings, Inc. (MARA - Free Report) ending at $16.14, denoting a -1.65% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq appreciated by 0.04%.
The company's stock has dropped by 7.55% in the past month, falling short of the Business Services sector's gain of 4.37% and the S&P 500's gain of 1.95%.
Investors will be eagerly watching for the performance of Marathon Digital Holdings, Inc. in its upcoming earnings disclosure. On that day, Marathon Digital Holdings, Inc. is projected to report earnings of -$0.34 per share, which would represent a year-over-year decline of 580%. Simultaneously, our latest consensus estimate expects the revenue to be $157.52 million, showing a 60.98% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.22 per share and revenue of $652.57 million, indicating changes of -229.41% and +68.4%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Digital Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.92% decrease. As of now, Marathon Digital Holdings, Inc. holds a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 68, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.