Roth Capital Cuts Price Target on Marathon Patent Group (MARA) Following 2Q EPS Miss

Roth Capital maintained a Buy rating on Marathon Patent Group (NASDAQ: MARA), and cut the price target to $8.00 (from $9.00), following the company's 2Q15 results. MARA reported an EPS loss of ($0.32) per share compared to ($0.14) consensus, and $1.4 million in revenue.

Analyst William Gibson commented, "Marathon lost $4.5 million or ($0.32) per share on revenue of $1.4 million. Our estimate was a $3.1 million or ($0.22) per share on revenue of $5 million. We are lowering our 2015 estimate to a $11.7 million loss or ($0.82) per share on revenue of $28.5 million from a $5.4 million loss or ($0.38) per share on revenue of $35.1 million previously."

Gibson also added, "Marathon announced a definitive merger agreement with privately-held, Australian patent monetization corporation, Uniloc. Each company will operate as fully owned Luxembourg chartered subsidiaries of a Luxembourg holding company to be known as Marathon Group SA. The Luxembourg domicile provides an effective 10% tax rate on intellectual property (IP) revenue."

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 $2.53 yesterday.

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