Stock of the Day

March 22, 2024

Liberty Media Corporation - Liberty Formula One Series C (FWONK)

$99.95
-$1.85 (-1.8%)
Market Cap: $22.84B

About Liberty Media Corporation - Liberty Formula One Series C

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship. It is also involved in the operation of the Formula 1 Paddock Club hospitality program; and provision of freight, logistical, and travel related services for the teams and other third parties, as well as the F2 and F3 race series. The company was founded in 1950 and is based in Englewood, Colorado. Formula One Group operates as a subsidiary of Liberty Media Corporation.

Today's Trend

Liberty Media Corporation – Liberty Formula One Series C (NASDAQ: FWONK) shares have increased, supported by a series of analyst price-target increases. The positive revisions appear to be outweighing concerns about the company’s weaker-than-expected second-quarter results.

  • JPMorgan raised its price target from $124 to $125 and maintained an overweight rating, implying substantial upside and signaling continued confidence in Formula One’s long-term growth prospects. Benzinga analyst update
  • UBS increased its price target from $104 to $110. Although it retained a neutral rating, the higher valuation suggests improved expectations for FWONK’s earnings or business outlook. Benzinga analyst update
  • Wells Fargo lifted its target from $97 to $105 while maintaining an equal-weight rating. The revision provides modest upside support despite a cautious overall stance. Benzinga analyst update
  • Liberty Media reported its second-quarter 2026 financial and operating results and discussed them during its earnings call. The available reports did not provide additional details beyond the earnings figures. Second-quarter financial and operating results
  • Second-quarter earnings and revenue missed analyst expectations. FWONK reported adjusted earnings of $0.02 per share versus estimates ranging from $0.16 to $0.24, while revenue of $934 million fell short of the approximately $953 million consensus. Earnings also declined sharply from $1.52 per share a year earlier, creating a fundamental headwind for the stock. Zacks second-quarter earnings report
← Previous Stock of the DayNext Stock of the Day →