Marathon Digital Holdings: Earnings Report Anticipation and Market Performance
Market Performance Overview
Marathon Digital Holdings (NASDAQ: NASDAQ) experienced a slight decline of 0.39% in its share price during Friday’s trading session, closing at $7.71 per share. This decrease outpaced the losses observed in major indices such as the Dow, Nasdaq, and S&P 500, which fell by 0.85%, 0.75%, and 0.96%, respectively. Over the past month, Marathon Digital’s shares have witnessed a more significant decline of 16.69%, surpassing the losses incurred by the Business Services sector and the S&P 500, which recorded declines of 3.96% and 3.02%, respectively.
Anticipation for Upcoming Earnings Report
Analysts are eagerly awaiting Marathon Digital’s upcoming earnings report, projecting a per-share earning of -$0.05, which signifies an impressive year-over-year (YoY) growth of 85.29%. Additionally, the company is expected to report revenue of $107.8 million, reflecting a staggering YoY increase of 749.5%.
Full-Year Projections
For the full-year figures, the Zacks Consensus Estimates predict that Marathon Digital will report -$0.20 per share earnings and revenue of $381.05 million. These figures indicate YoY changes of +89.07% and +223.62%, respectively.
Stagnant EPS Estimate Impact
Despite these promising projections, Marathon Digital’s Zacks Consensus EPS estimate has remained stagnant, resulting in a Zacks Rank of #4 (Sell). However, it is important to note that the Zacks Rank system has a proven track record of outperformance.
Technology Services Industry Performance
Marathon Digital operates within the Technology Services industry, which currently holds a favorable position in the market. With a Zacks Industry Rank of 83, this industry outperforms the bottom half by a factor of two to one, securing a spot in the top 33% of all industries according to Zacks.
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