Sphere Entertainment (NYSE:SPHR) Price Target Raised to $132.00

Sphere Entertainment (NYSE:SPHR) had its target price lifted by investment analysts at Bank of America from $110.00 to $132.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 1.09% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Craig Hallum reissued a “buy” rating and issued a $100.00 price objective on shares of Sphere Entertainment in a research note on Thursday, December 18th. New Street Research set a $110.00 price objective on shares of Sphere Entertainment in a research note on Thursday, January 15th. The Goldman Sachs Group raised their price objective on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $135.00 price objective on shares of Sphere Entertainment in a research note on Friday, February 13th. Finally, National Bank Financial set a $136.00 price objective on shares of Sphere Entertainment in a research note on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.38.

Sphere Entertainment Trading Up 5.1%

NYSE SPHR opened at $130.57 on Thursday. The firm’s 50-day moving average is $110.76 and its two-hundred day moving average is $90.28. Sphere Entertainment has a 12 month low of $23.89 and a 12 month high of $133.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $4.64 billion, a P/E ratio of -290.16 and a beta of 1.67.

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

Institutional Trading of Sphere Entertainment

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its holdings in Sphere Entertainment by 19.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in Sphere Entertainment in the fourth quarter valued at approximately $737,000. Corient Private Wealth LLC acquired a new stake in Sphere Entertainment in the fourth quarter valued at approximately $984,000. Caitong International Asset Management Co. Ltd raised its holdings in Sphere Entertainment by 93.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 570 shares of the company’s stock valued at $54,000 after acquiring 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 approximately $399,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.