Marathon Digital Holdings, Inc. (MARA) Stock Sinks As Market Gains: Here's Why

Marathon Digital Holdings, Inc. (MARA) closed the latest trading day at $18.26, indicating a -0.14% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.92%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 2.03%.

The the stock of company has risen by 5.75% in the past month, leading the Business Services sector's gain of 2.44% and the S&P 500's gain of 0.81%.

The investment community will be closely monitoring the performance of Marathon Digital Holdings, Inc. in its forthcoming earnings report. On that day, Marathon Digital Holdings, Inc. is projected to report earnings of -$0.30 per share, which would represent a year-over-year decline of 1400%. Simultaneously, our latest consensus estimate expects the revenue to be $187.03 million, showing a 19.3% escalation compared to the year-ago quarter.

Investors should also note any 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 company's business operations and its ability to generate profits.

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, 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. The Zacks Consensus EPS estimate has moved 3.66% higher within the past month. Marathon Digital Holdings, Inc. currently has a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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