Sphere Entertainment’s (SPHR) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Sphere Entertainment (NYSE:SPHR) in a report released on Friday morning,Benzinga reports. They currently have a $145.00 target price on the stock, down from their prior target price of $185.00.

Other analysts also recently issued research reports about the stock. Guggenheim lowered their target price on shares of Sphere Entertainment from $208.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. New Street Research set a $188.00 price target on shares of Sphere Entertainment in a report on Tuesday, July 14th. The Goldman Sachs Group lifted their target price on shares of Sphere Entertainment from $150.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. BTIG Research cut their target price on Sphere Entertainment from $190.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Finally, Seaport Research Partners set a $160.00 target price on Sphere Entertainment in a report on Wednesday, October 7th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.27.

Sphere Entertainment Stock Up 0.1%

Shares of NYSE:SPHR opened at $109.07 on Friday. The business’s 50 day moving average is $133.74 and its 200 day moving average is $140.52. Sphere Entertainment has a 12-month low of $64.00 and a 12-month high of $181.63. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -40.70 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.32.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.44. The business had revenue of $313.64 million during the quarter, compared to analyst estimates of $307.44 million. Sphere Entertainment had a negative return on equity of 1.38% and a negative net margin of 6.19%. Sphere Entertainment’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.39 EPS. On average, sell-side analysts forecast that Sphere Entertainment will post -2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of SPHR. Signaturefd LLC increased its holdings in shares of Sphere Entertainment by 204.9% in the third quarter. Signaturefd LLC now owns 186 shares of the company’s stock worth $25,000 after purchasing an additional 125 shares during the period. Polaris Financial Partners purchased a new position in shares of Sphere Entertainment during the third quarter worth approximately $43,000. Nykredit A S bought a new stake in Sphere Entertainment in the second quarter worth $79,000. Parallel Advisors LLC lifted its stake in shares of Sphere Entertainment by 275.0% in the 1st quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock valued at $55,000 after acquiring an additional 341 shares during the last quarter. Finally, Vision Retirement LLC lifted its position in Sphere Entertainment by 38.0% in the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after purchasing an additional 133 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.