Roth Capital Cuts Price Target on Marathon Patent Group (MARA) Following 3Q Beat

Roth Capital maintained a Buy rating on Marathon Patent Group (NASDAQ: MARA), and cut the price target to $7.00 (from $8.00), following the company's 3Q earnings report. Marathon Patent lost $3.8 million or ($0.26) per share on revenue of $6.4 million y/y. Roth's estimate was a $3.5 million loss on revenue of $5 million.

Analyst William Gibson commented, "We are lowering our 4Q15 and 2016 estimates. Our 4Q15 estimate declines to a profit of $270,000 or $0.02 per share on revenue of $11.6 million from $18 million and $0.20 previously. We are also lowering our 2016 estimate and introducing quarterly estimates."

For an analyst ratings summary and ratings history on Marathon Patent Group click here. For more ratings news on Marathon Patent Group click here.

Shares of Marathon Patent Group closed at $1.40 yesterday.

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