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

Shares of Sphere Entertainment Co. (NYSE:SPHR) have received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $106.3333.

Several research analysts have issued reports on SPHR shares. National Bank Financial set a $136.00 price objective on Sphere Entertainment in a research report on Thursday, January 22nd. Morgan Stanley restated an “overweight” rating and set a $135.00 target price on shares of Sphere Entertainment in a research report on Friday, February 13th. Seaport Research Partners raised shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Wolfe Research reiterated an “outperform” rating and issued a $105.00 price target on shares of Sphere Entertainment in a report on Monday, December 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $126.00 price objective on shares of Sphere Entertainment in a research note on Friday, February 13th.

Institutional Investors Weigh In On Sphere Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of Sphere Entertainment by 19.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock worth $58,000 after acquiring an additional 100 shares during the period. Osbon Capital Management LLC acquired a new position in Sphere Entertainment during the fourth quarter worth $737,000. Corient Private Wealth LLC purchased a new stake in Sphere Entertainment during the fourth quarter worth $984,000. Caitong International Asset Management Co. Ltd boosted its position in Sphere Entertainment by 93.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 570 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Sphere Entertainment in the fourth quarter valued at $399,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Sphere Entertainment Price Performance

Shares of SPHR opened at $107.45 on Friday. 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 stock’s 50 day moving average is $105.06 and its two-hundred day moving average is $84.34. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $121.93. The firm has a market capitalization of $3.81 billion, a PE ratio of -238.78 and a beta of 1.61.

Sphere Entertainment (NYSE:SPHR) last issued 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. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The business had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. During the same period in the prior year, the business posted ($3.49) EPS. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. Research analysts anticipate that Sphere Entertainment will post -11.47 earnings per share for the current year.

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.