MARA Holdings Faces Mixed Analyst Sentiment: Revenue Miss And Conservative Forecasts Amid Bitcoin Rally
MARA Holdings Faces Mixed Analyst Sentiment: Revenue Miss And Conservative Forecasts Amid Bitcoin Rally
Meanwhile, the analyst lowered the FY24 sales estimate to $597.6 million from $621.1 million due to the results and a more conservative 4.5-cent hash price outlook.Bitcoin (CRYPTO: BTC/USD) miner MARA Holdings, Inc. (NASDAQ:MARA) shares are trading lower on Wednesday. Analysts expressed views on third-quarter earnings reported yesterday.
比特幣（CRYPTO: btc/usd）礦商MARA Holdings, Inc.（納斯達克：MARA）股票週三交易下跌。分析師對昨天報告的第三季度營業收入發表了看法。
On Tuesday, MARA reported third-quarter revenue of $131.6 million, missing the consensus estimate of $151.67 million and an adjusted loss of 34 cents per share, missing analyst estimates for a loss of 26 cents per share.
週二，MARA報告第三季度營業收入爲$13160萬，低於市場普遍預期的$15167萬，並調整後每股損失34美分，低於分析師預計的每股損失26美分。
H.C. Wainwright analyst Kevin Dede reiterated the Buy rating and raised the price target to $28 from $27. The analyst notes the current multiple is justified given Bitcoin's recent surge and increased access through ETFs.
H.C. Wainwright分析師Kevin Dede重申了買入評級，並將目標價格從$27上調至$28。分析師指出，考慮到最近比特幣的上漲及通過etf的增加訪問，當前的市盈率是合理的。
Meanwhile, the analyst lowered the FY24 sales estimate to $597.6 million from $621.1 million due to the results and a more conservative 4.5-cent hash price outlook.
與此同時，分析師將2024財年的營業收入預估從$62110萬下調至$59760萬，原因是結果和更爲保守的4.5美分哈希價格預期。
Dede revised FY25 sales to $774.4 million, down slightly from $777.4 million, pending new business impact. The forecast assumes a slower ramp-up to 50 EH/s by early 2025, relying on Bitmain and Auradine for miners, adds the analyst.
Dede將2025財年的營業收入修正爲$77440萬，略低於$77740萬，待新業務影響。該預測假設到2025年初以50 EH/s的速度緩慢增長，依賴比特大陸和Auradine提供礦機，分析師補充道。
JP Morgan analyst Reginald L. Smith has rated the company as Underweight. The analyst writes that MARA was one of the few miners in their coverage to surpass network hashrate growth in the third quarter, but total revenue fell due to lower BTC prices and hosting revenue.
JP摩根分析師Reginald L. Smith對該公司給予低於市場平均的評級。分析師表示，MARA是他們覆蓋的少數幾家礦商之一，在第三季度超越了網絡哈希率增長，但由於比特幣價格和託管收入下降，總營業收入下降。
While MARA has no plans to manage AI/HPC compute, it is positioning itself as an infrastructure supplier to data center operators and a leader in energy transformation with proprietary technologies, adds the analyst.
雖然MARA沒有計劃管理人工智能/高性能計算，但它正定位爲數據中心運營商的基礎設施供應商，並憑藉其專有技術成爲能源轉型的領導者，分析師補充道。
Although it remains the largest publicly traded miner by hashrate and is diversifying away from pure-play mining, the analyst notes its premium valuation is not fully justified, given the deteriorating economics.
儘管它仍是按哈希率計最大的上市礦商，並正逐漸多元化到純採礦業務之外，分析師指出，考慮到日益惡化的經濟狀況，其溢價估值並未完全合理化。
Needham analyst John Todaro has given the miner a Hold rating. The analyst says that as Bitcoin rallies into 2025, peaking around $100k per BTC, they anticipate margin relief for miners like MARA.
Needham 分析師約翰·託達羅給予該礦業公司持有評級。分析師表示，隨着比特幣在2025年上漲，最高將達到每個比特幣10萬美元，他們預計礦工如MARA將獲得利潤緩解。
However, rising hash rates could offset some of these gains, adds the analyst. The analyst assumes more conservative hash growth for MARA going forward and that the company does not pursue HPC/AI initiatives.
然而，分析師補充，哈希率的上升可能抵消部分收益。分析師假設MARA的哈希增長將更加保守，並且該公司不追求HPC/人工智能項目。
Investors can gain exposure to the stock via First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSE:CRPT) and iShares Trust iShares Blockchain and Tech ETF (NYSE:IBLC).
投資者可以通過First Trust SkyBridge Crypto Industry and Digital Economy ETF (紐交所:CRPT) 和 iShares Trust iShares Blockchain and Tech ETF (紐交所:IBLC)來獲取該股票的敞口。
Price Action: MARA shares are down 5.23% at $23.91 at the last check Wednesday.
價格走勢：週三最新檢查時，MARA的股票下跌了5.23%，報23.91美元。
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譯文內容由第三人軟體翻譯。
