Sphere Entertainment Co. (NYSE:SPHR) Receives $94.38 Consensus PT from Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $94.3846.

Several research analysts have issued reports on SPHR shares. Craig Hallum reaffirmed a “buy” rating and issued a $100.00 price target on shares of Sphere Entertainment in a report on Thursday, December 18th. JPMorgan Chase & Co. lifted their target price on Sphere Entertainment from $91.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. National Bankshares set a $136.00 target price on Sphere Entertainment in a report on Thursday. Seaport Research Partners upgraded Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, New Street Research set a $110.00 price objective on Sphere Entertainment in a report on Thursday, January 15th.

Hedge Funds Weigh In On Sphere Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPHR. Ariel Investments LLC grew its position in Sphere Entertainment by 12.7% during the 2nd quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock worth $296,790,000 after purchasing an additional 802,098 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after buying an additional 357,794 shares during the period. Mane Global Capital Management LP purchased a new position in shares of Sphere Entertainment during the third quarter valued at $22,143,000. Woodline Partners LP acquired a new position in Sphere Entertainment during the third quarter valued at $20,503,000. Finally, Portolan Capital Management LLC purchased a new stake in Sphere Entertainment in the 3rd quarter worth about $12,947,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $96.10 on Friday. The company has a 50-day moving average of $89.19 and a 200-day moving average of $66.76. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -18.59 and a beta of 1.71. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $101.89.

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.