Sphere Entertainment (NYSE:SPHR) Price Target Raised to $200.00

Sphere Entertainment (NYSE:SPHR) had its target price hoisted by equities researchers at Citizens Jmp from $175.00 to $200.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 30.49% from the stock’s current price.

A number of other analysts have also commented on the company. Bank of America lifted 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. Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Benchmark raised shares of Sphere Entertainment from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Wednesday, May 6th. Finally, Guggenheim upped their price target on shares of Sphere Entertainment from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.85.

Sphere Entertainment Price Performance

Shares of SPHR traded down $0.62 during trading hours on Wednesday, reaching $153.27. The stock had a trading volume of 134,316 shares, compared to its average volume of 781,157. Sphere Entertainment has a 12 month low of $37.89 and a 12 month high of $160.36. The stock has a market capitalization of $5.44 billion, a PE ratio of 86.05 and a beta of 1.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.22. The company’s 50-day moving average is $135.79 and its two-hundred day moving average is $113.17.

Sphere Entertainment (NYSE:SPHR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business had revenue of $386.41 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the previous year, the company posted ($2.27) EPS. Sphere Entertainment’s quarterly revenue was up 37.7% compared to the same quarter last year. Research analysts expect that Sphere Entertainment will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Legato Capital Management LLC bought a new position in Sphere Entertainment during the third quarter worth $661,000. Kelleher Financial Advisors bought a new stake in Sphere Entertainment during the fourth quarter valued at $389,000. Stratos Wealth Partners LTD. grew its holdings in Sphere Entertainment by 141.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 27,947 shares of the company’s stock worth $2,657,000 after acquiring an additional 16,351 shares during the period. Pinnbrook Capital Management LP acquired a new stake in Sphere Entertainment during the 3rd quarter worth about $3,045,000. Finally, Citigroup Inc. raised its position in shares of Sphere Entertainment by 94.0% in the 3rd quarter. Citigroup Inc. now owns 50,592 shares of the company’s stock worth $3,143,000 after acquiring an additional 24,520 shares in the last quarter. Institutional investors 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.