Sphere Entertainment Co. (NYSE:SPHR) Stock Has Consensus Price Target of $166.00 According to Analysts

Key Points

• Analysts rate Sphere Entertainment “Moderate Buy,” with 12 buy ratings and two holds; the average 12-month price target is $166, above the stock’s $134.31 opening price.
• Recent analysts have issued targets ranging from $182 to $188, including Piper Sandler’s $185 target and New Street Research’s $188 price objective.
• Sphere reported quarterly revenue of $313.64 million, up 10.9% year over year, and an adjusted loss of $1.07 per share that was better than analysts’ expected $1.51 loss; however, the company remains unprofitable.

Shares of Sphere Entertainment Co. (NYSE:SPHR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $166.00.

A number of analysts have recently commented on the company. Citigroup reiterated a "market outperform" rating on shares of Sphere Entertainment in a research report on Tuesday, September 1st. Piper Sandler assumed coverage on Sphere Entertainment in a research report on Thursday, August 20th. They issued an "overweight" rating and a $185.00 target price for the company. Susquehanna raised their price target on Sphere Entertainment from $159.00 to $182.00 and gave the stock a "positive" rating in a research note on Thursday, June 18th. BTIG Research reaffirmed a "buy" rating on shares of Sphere Entertainment in a research report on Monday. Finally, New Street Research set a $188.00 price objective on Sphere Entertainment in a research note on Tuesday, July 14th.

Institutional Trading of Sphere Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of SPHR. GAMMA Investing LLC grew its position in Sphere Entertainment by 7.1% in the 2nd quarter. GAMMA Investing LLC now owns 961 shares of the company's stock valued at $166,000 after buying an additional 64 shares during the last quarter. Arizona State Retirement System raised its position in Sphere Entertainment by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 7,111 shares of the company's stock worth $1,230,000 after buying an additional 75 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Sphere Entertainment by 19.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company's stock worth $58,000 after buying an additional 100 shares during the last quarter. Vision Retirement LLC lifted its stake in shares of Sphere Entertainment by 38.0% in the 1st quarter. Vision Retirement LLC now owns 483 shares of the company's stock worth $57,000 after acquiring an additional 133 shares during the period. Finally, Corient Private Wealth LP lifted its stake in shares of Sphere Entertainment by 1.3% in the 2nd quarter. Corient Private Wealth LP now owns 15,930 shares of the company's stock worth $2,756,000 after acquiring an additional 198 shares during the period. Hedge funds and other institutional investors own 92.03% of the company's stock.

Sphere Entertainment Trading Down 3.2%

Shares of Sphere Entertainment stock opened at $134.31 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $148.65 and a 200-day simple moving average of $140.83. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -50.12 and a beta of 1.62. Sphere Entertainment has a 12-month low of $57.01 and a 12-month high of $181.63.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) earnings per share for the quarter, beating analysts' consensus estimates of ($1.51) by $0.44. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The firm had revenue of $313.64 million during the quarter, compared to analysts' expectations of $307.44 million. During the same period in the previous year, the company earned $3.39 earnings per share. Sphere Entertainment's quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts forecast that Sphere Entertainment will post -2.34 EPS for the current fiscal year.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences, venue operations and regional sports and entertainment programming. The company's primary business is Sphere, a next-generation venue in Las Vegas, Nevada, designed to host concerts, residencies, films and other events using large-scale LED displays, advanced audio systems and immersive visual technologies.

Sphere Entertainment develops and presents original content for the venue, including immersive films and entertainment productions, while also generating revenue from ticketed events, hospitality, advertising, sponsorships and related partnerships.

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