Sphere Entertainment (NYSE:SPHR) Price Target Raised to $160.00 at Guggenheim

Sphere Entertainment (NYSE:SPHR) had its price objective lifted by Guggenheim from $150.00 to $160.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, January 21st. National Bank Financial set a $136.00 price objective on shares of Sphere Entertainment in a report on Thursday, January 22nd. Morgan Stanley reissued an “overweight” rating and set a $135.00 price target on shares of Sphere Entertainment in a research report on Friday, February 13th. Citizens Jmp started coverage on Sphere Entertainment in a research note on Monday. They issued an “outperform” rating and a $150.00 price target for the company. Finally, New Street Research set a $110.00 price objective on shares of Sphere Entertainment in a report on Thursday, January 15th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.46.

Sphere Entertainment Stock Up 6.0%

Shares of NYSE SPHR opened at $127.04 on Thursday. Sphere Entertainment has a 1 year low of $23.89 and a 1 year high of $127.41. The firm’s 50 day moving average price is $108.25 and its 200 day moving average price is $88.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $4.51 billion, a P/E ratio of -282.32 and a beta of 1.67.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in Sphere Entertainment in the 3rd quarter valued at about $30,000. ORG Partners LLC raised its holdings in shares of Sphere Entertainment by 80.1% in the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after purchasing an additional 294 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Sphere Entertainment during the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd boosted its holdings in Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after buying an additional 156 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Sphere Entertainment during the fourth quarter worth approximately $48,000. 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.