Sphere Entertainment (NYSE:SPHR) Price Target Raised to $110.00

Sphere Entertainment (NYSE:SPHR) had its price target upped by JPMorgan Chase & Co. from $91.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $98.00 price objective on shares of Sphere Entertainment in a research report on Tuesday, January 6th. Wolfe Research restated an “outperform” rating and set a $105.00 price target on shares of Sphere Entertainment in a report on Monday, December 15th. Seaport Res Ptn upgraded shares of Sphere Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. New Street Research set a $110.00 price objective on shares of Sphere Entertainment in a research note on Thursday. Finally, Morgan Stanley raised shares of Sphere Entertainment from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $75.00 to $105.00 in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Sphere Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Sphere Entertainment Price Performance

SPHR opened at $96.17 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -18.60 and a beta of 1.71. The stock has a fifty day simple moving average of $87.41 and a two-hundred day simple moving average of $64.74. Sphere Entertainment has a 12-month low of $23.89 and a 12-month high of $101.89.

Institutional Trading of Sphere Entertainment

Institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. purchased a new position in Sphere Entertainment in the second quarter worth about $209,000. North Star Investment Management Corp. increased its position in shares of Sphere Entertainment by 4.7% during the 2nd quarter. North Star Investment Management Corp. now owns 140,615 shares of the company’s stock valued at $5,878,000 after purchasing an additional 6,310 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its stake in shares of Sphere Entertainment by 4.7% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 208,182 shares of the company’s stock worth $8,702,000 after purchasing an additional 9,386 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Sphere Entertainment in the second quarter worth approximately $609,000. Finally, Geode Capital Management LLC grew its position in Sphere Entertainment by 1.5% during the second quarter. Geode Capital Management LLC now owns 650,037 shares of the company’s stock valued at $27,175,000 after buying an additional 9,746 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

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.