SPHR

Sphere EntertainmentB

NYSE / Media & Entertainment

At close

2026-07-21

Current thesis

Primary-source earnings support a cautious positive prior: Sphere segment growth and margin inflection suggest the Las Vegas asset is moving from concept risk toward more repeatable monetization [#8-K-2026-05-05]. Recent news flow also included positive post-print coverage, but the packet does not provide a full analyst-revision set, so this should be treated as early confirmation rather than broad consensus.

Posture

Constructive

Lead driver

Momentum

What changed

Momentum remains the lead driver in the composite, 7D delta -4.6.

What can break

Liquidity is better but not fully comfortable relative to debt load; the company had $629.1 million of unrestricted cash and $810.4 million of debt as of March 31, 2026, and management says no assurance can be provided if Sphere cash-flow assumptions weaken [#10-Q-2026-05-05].

Momentum

Value

Sentiment

Setup hits (3d)

0 · Net Neutral

AI TargetsBase $142.00 · Bull $165.00 · Bear $105.00

Data freshness

Prices

As of 2026-07-21

Fundamentals

As of 2026-07-21 • Vendor: Data Vendor v1

Scores

As of 2026-07-21 • Model: HYBRID_IC_RP

AI Memo

As of 2026-05-08 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-07-21

Supporting evidence

What

Grade B · Constructive

Confidence Medium · Net Neutral

Target $176.25

Why

Momentum80 · Δ7d -4.6

Value51 · Δ7d -0.3

Sentiment45 · Δ7d +2.2

So what

Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.

Lead driver: Momentum · See technicals

Momentum

26% active weight

Current posture

7d trendSoftening

Δ7d

-4.6

Δ21d

-13.6

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.3

Δ21d

+0.8

Sentiment

34% active weight

Current posture

7d trendImproving

Δ7d

+2.2

Δ21d

+16.4

Why this grade

Composite grade B. Momentum 79.6 / Value 50.6 / Sentiment 45.5

Fundamentals (TTM)

As of 2026-07-21

Market Cap

$5.09B

Beta

1.69

Shares Out

35.79M

P/E (TTM) · Derived

153.5

P/S (TTM)

2.91

P/FCF (TTM)

1433.28

Rev YoY

+37.7%

EPS YoY

-98.0%

Gross Margin

+29.3%

Op Margin

-4.9%

Net Debt

$440.19M

Current Ratio

1.20

As of 2026-07-21 • Updated nightlySource: Internal modelMethodology