
Sphere 3D (ANY) Stock Forecast & Price Target
Sphere 3D (ANY) Analyst Ratings
Bulls say
Sphere 3D Corp demonstrated a positive shift in its financial performance with earnings per share (EPS) of $0.10 for the quarter, a notable improvement from a loss of $0.27 per share in the first quarter of 2024, underpinned by strong equity holdings following the CoreWeave announcement. The company maintains a robust balance sheet, characterized by $10 million in equity holdings and the absence of debt, allowing greater financial flexibility and potential for future growth. Additionally, Sphere 3D is advancing its vertical integration strategy to reduce dependence on third-party hosting, with plans for the Iowa expansion expected to enhance profitability and operational efficiency.
Bears say
Sphere 3D Corp has experienced a significant decline in revenue, reporting $4.7 million for the June quarter, a 33% decrease from $6.9 million in the previous quarter, primarily due to impacts from the halving and decreased fleet performance. The company's average hashrate fell to 0.7 Eh/s in the 3Q24, further exacerbating revenue challenges, with projections for fiscal 2024 and fiscal 2025 now at $16.8 million and $12 million, respectively, down from earlier estimates. Reliance on a small number of hosting partners and ongoing fleet upgrades contribute to a negative outlook, as the company's efforts to enhance performance remain insufficient to offset declining revenue streams.
This aggregate rating is based on analysts' research of Sphere 3D and is not a guaranteed prediction by Public.com or investment advice.
Sphere 3D (ANY) Analyst Forecast & Price Prediction
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