The Goldman Sachs Group Increases Sphere Entertainment (NYSE:SPHR) Price Target to $140.00

Sphere Entertainment (NYSE:SPHR) had its target price boosted by equities researchers at The Goldman Sachs Group from $126.00 to $140.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 8.34% from the stock’s previous close.

A number of other equities research analysts have also weighed in on SPHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere Entertainment in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating and issued a $135.00 price objective on shares of Sphere Entertainment in a research report on Friday, February 13th. Craig Hallum reiterated a “buy” rating and issued a $100.00 price objective on shares of Sphere Entertainment in a research report on Thursday, December 18th. Benchmark upgraded Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $105.00 price objective on shares of Sphere Entertainment in a research report on Monday, December 15th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sphere Entertainment has a consensus rating of “Moderate Buy” and an average price target of $114.38.

Sphere Entertainment Price Performance

SPHR opened at $129.22 on Wednesday. The stock’s 50 day simple moving average is $111.42 and its 200 day simple moving average is $90.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $133.52. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -287.16 and a beta of 1.67.

Sphere Entertainment (NYSE:SPHR) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $1.35. The business had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.Sphere Entertainment’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the company earned ($3.49) EPS. As a group, analysts predict that Sphere Entertainment will post -11.47 earnings per share for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in shares of Sphere Entertainment by 19.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Sphere Entertainment by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock valued at $3,448,000 after purchasing an additional 145 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Sphere Entertainment by 2.0% during the third quarter. Arizona State Retirement System now owns 7,758 shares of the company’s stock valued at $482,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Sphere Entertainment by 53.1% during 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 in the last quarter. Finally, Putney Financial Group LLC boosted its position in shares of Sphere Entertainment by 4.2% during the fourth quarter. Putney Financial Group LLC now owns 4,475 shares of the company’s stock valued at $425,000 after purchasing an additional 180 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Company Profile

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.