Brokerages Set Sphere Entertainment Co. (NYSE:SPHR) Price Target at $101.23

Shares of Sphere Entertainment Co. (NYSE:SPHR) have been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $101.2308.

A number of equities research analysts recently weighed in on the company. Bank of America increased their price target on Sphere Entertainment from $48.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Craig Hallum reissued a “buy” rating and issued a $100.00 price objective on shares of Sphere Entertainment in a research report on Thursday, December 18th. Wolfe Research reaffirmed an “outperform” rating and set a $105.00 target price on shares of Sphere Entertainment in a report on Monday, December 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $126.00 price target on shares of Sphere Entertainment in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Sphere Entertainment from $91.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPHR. Ariel Investments LLC boosted its stake in Sphere Entertainment by 12.7% in the second quarter. Ariel Investments LLC now owns 7,100,237 shares of the company’s stock valued at $296,790,000 after buying an additional 802,098 shares in the last quarter. Steadfast Capital Management LP lifted its holdings in shares of Sphere Entertainment by 0.9% in the third quarter. Steadfast Capital Management LP now owns 1,256,497 shares of the company’s stock worth $78,054,000 after acquiring an additional 10,720 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Sphere Entertainment by 23.2% in the 2nd quarter. Holocene Advisors LP now owns 760,160 shares of the company’s stock valued at $31,775,000 after purchasing an additional 142,997 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sphere Entertainment by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock valued at $27,175,000 after purchasing an additional 9,746 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Sphere Entertainment by 132.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock worth $20,577,000 after purchasing an additional 357,794 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Price Performance

Sphere Entertainment stock opened at $114.82 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $4.05 billion, a P/E ratio of -255.16 and a beta of 1.68. The business has a 50-day moving average of $96.58 and a 200-day moving average of $73.97. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $118.14.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $1.35. The business had revenue of $394.28 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned ($3.49) EPS. On average, equities analysts anticipate that Sphere Entertainment will post -11.47 EPS for the current year.

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.