Marathon Digital Stock Drops 5.6% as Analysts Adjust Price Targets

Shares of the cryptocurrency mining company fall amid analyst downgrades and lowered price targets.

Published on Mar. 5, 2026

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Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) traded down 5.6% on Thursday, with the stock hitting a low of $8.50 before closing at $8.77. The drop came as several brokerages adjusted their price targets for the company, with Morgan Stanley starting coverage with an "underweight" rating and a $8.00 price target, and Cantor Fitzgerald lowering its target from $21.00 to $11.00.

Why it matters

Marathon Digital is one of the largest publicly traded cryptocurrency mining companies, so its stock performance is closely watched as a barometer for the broader crypto mining industry. The analyst downgrades and price target cuts reflect concerns about the company's profitability and growth prospects in the current crypto market environment.

The details

The 5.6% drop in Marathon Digital's stock price on Thursday came on increased trading volume, with 49,360,963 shares changing hands - a 4% increase from the average daily volume. Analysts have cited factors like the drop in Bitcoin prices and increased competition in the mining space as reasons for their more cautious outlook on the company.

  • Marathon Digital's stock closed at $9.29 on the previous trading day.
  • The stock hit a low of $8.50 during Thursday's trading session.

The players

Marathon Digital Holdings, Inc.

A digital asset technology company that specializes in the mining and acquisition of Bitcoin, headquartered in Las Vegas, Nevada.

Morgan Stanley

A global financial services firm that recently initiated coverage of Marathon Digital with an "underweight" rating and $8.00 price target.

Cantor Fitzgerald

A global financial services firm that lowered its price target for Marathon Digital from $21.00 to $11.00.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

The drop in Marathon Digital's stock price highlights the volatility and uncertainty in the cryptocurrency mining industry, as companies navigate factors like falling Bitcoin prices and increased competition. Investors will be closely watching to see if the company can maintain profitability and growth in the current market environment.