7/103 sources · 2 publishersUpdated Oct 8, 21:34 UTC
Craig‑Hallum downgrades Sphere Entertainment, cuts price target to $132, shares tumble
Craig‑Hallum analyst Ryan Sigdahl lowered his rating on Sphere Entertainment to Hold and reduced the price target from $170 to $132. The downgrade was issued on Oct. 5‑6 2026 after the firm said demand for the updated “Wizard of Oz” show was weakening faster than expected. The note prompted a sharp decline in the stock, with the market reacting by selling the shares. The company’s recent quarterly results showed revenue growth but widening operating losses.
Why it matters
The downgrade and lower target removed much of the stock’s upside, leading to a double‑digit drop in the share price, as noted in the materials.
Key facts
- 1Craig‑Hallum analyst Ryan Sigdahl downgraded Sphere Entertainment to Hold from Buy. financialcontent.com
- 2He cut the price target to $132 from $170. financialcontent.com
- 3Fiscal second‑quarter revenue was $313.6 million, up 11% year over year. tradingview.com
- 4Operating loss for the quarter widened to $61.3 million from $50.2 million. tradingview.com
- 5Revenue from the Sphere business rose to $226.4 million, a 29% increase. tradingview.com
- 6The “Wizard of Oz” attraction has generated more than $500 million in ticket sales and sold over 4 million tickets since its debut. tradingview.com
Open questions
- Share price decline reported as 12.3% (material 1), nearly 14% (material 2), and 14% (material 3).
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.