Analysts Set Sphere Entertainment Co. (NYSE:SPHR) Price Target at $106.33

Shares of Sphere Entertainment Co. (NYSE:SPHR) have received an average rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $106.3333.

A number of equities analysts have recently weighed in on SPHR shares. BTIG Research boosted their price objective on shares of Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, February 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $126.00 target price on shares of Sphere Entertainment in a research note on Friday, February 13th. Benchmark upgraded Sphere Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, February 17th. Morgan Stanley reissued an “overweight” rating and set a $135.00 price target on shares of Sphere Entertainment in a research note on Friday, February 13th. Finally, New Street Research set a $110.00 price objective on Sphere Entertainment in a research report on Thursday, January 15th.

Sphere Entertainment Stock Up 5.0%

SPHR opened at $110.98 on Friday. The firm has a market cap of $3.94 billion, a P/E ratio of -246.61 and a beta of 1.61. The business’s fifty day simple moving average is $103.63 and its 200 day simple moving average is $83.06. Sphere Entertainment has a 52 week low of $23.89 and a 52 week high of $121.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $1.35. The firm had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.49) EPS. As a group, equities research analysts anticipate that Sphere Entertainment will post -11.47 EPS for the current fiscal year.

Institutional Trading of Sphere Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new position in shares of Sphere Entertainment during the 4th quarter worth about $41,000. Caitong International Asset Management Co. Ltd grew its holdings in Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after purchasing an additional 156 shares during the period. Quent Capital LLC purchased a new stake in Sphere Entertainment in the third quarter valued at approximately $30,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Sphere Entertainment during the fourth quarter worth approximately $48,000. Finally, Flagship Harbor Advisors LLC purchased a new position in Sphere Entertainment during the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

About Sphere Entertainment

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.