Analysts Set Sphere Entertainment Co. (NYSE:SPHR) Target Price at $151.15

Sphere Entertainment Co. (NYSE:SPHR) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $151.1538.

Several analysts recently commented on the company. Bank of America boosted their price target on Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and issued a $190.00 price target on shares of Sphere Entertainment in a research note on Tuesday, May 19th. Seaport Research Partners reaffirmed a “buy” rating and issued a $173.00 price target on shares of Sphere Entertainment in a research note on Wednesday, June 17th. Benchmark boosted their price objective on Sphere Entertainment from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Guggenheim boosted their price objective on Sphere Entertainment from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th.

Hedge Funds Weigh In On Sphere Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new position in Sphere Entertainment in the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd boosted its stake in Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after purchasing an additional 156 shares in the last quarter. Parallel Advisors LLC boosted its stake in Sphere Entertainment by 275.0% in the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after purchasing an additional 341 shares in the last quarter. Vision Retirement LLC lifted its stake in shares of Sphere Entertainment by 38.0% during the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after acquiring an additional 133 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Sphere Entertainment during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Sphere Entertainment Stock Performance

SPHR opened at $169.69 on Monday. The stock’s 50 day simple moving average is $140.49 and its 200-day simple moving average is $117.18. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6.02 billion, a PE ratio of 95.33 and a beta of 1.64. Sphere Entertainment has a 1 year low of $37.89 and a 1 year high of $171.47.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.27. The business had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.Sphere Entertainment’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.27) EPS. Sell-side analysts forecast that Sphere Entertainment will post -2.44 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.