Marathon Digital Holdings (MARA) will release its fiscal Q2 financials on August 1. Analysts expect MARA to report a loss of 0.01 per share, the same as the figure in the prior year quarter. Meanwhile, analysts expect revenues of $157.9 million, reflecting a solid 93% year-over-year increase, according to TipRanks’ data.
Marathon Digital Holdings is a U.S. digital asset technology company that specializes in cryptocurrency mining.
Insights from TipRanks Bulls Say, Bears Say
With analysts expecting revenue to improve in Q2, bullish analysts, according to TipRanks’ Bulls Say, Bears Say tool, also believe that Marathon is a financially strong company with $1.3 billion in liquidity. Also, they are optimistic about MARA’s international expansion initiatives, with new crypto mining facilities in Kenya. On the tech side, Marathon has introduced “2PIC,” a new cooling system available for external clients.
However, bears pointed out that Marathon’s Q1 earnings report fell short of expectations, missing both revenue and adjusted EBITDA targets when excluding Bitcoin gains. They also remain concerned about the operational issues at the Ellendale mine, located in Western Australia.
Options Traders Anticipate a Major Move
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting an 8.46% move in either direction.
What Is the Price Target for MARA?
Marathon’s share price has declined by nearly 16% year-to-date. Overall, the Street has a Hold consensus rating on Marathon Digital alongside an average price target of $21.20. However, analysts’ views on the stock are likely to change once the company reports its Q2 earnings tomorrow.
