Sphere Entertainment (NYSE:SPHR) Given New $190.00 Price Target at BTIG Research

Key Points

• BTIG raised its price target on Sphere Entertainment (NYSE:SPHR) from $127 to $190 and kept a "buy" rating, implying about a 39% upside from the current price.
• Q1 results beat expectations—EPS of ($0.04) vs. consensus ($0.86) and revenue of $386.41M (up 37.7% YoY)—but sell‑side analysts still project a full‑year EPS of -2.51.
• Overall analyst sentiment is largely positive (ten Buys, one Hold, one Sell) with an average target of $137.17, and institutional investors own roughly 92% of the stock.

Sphere Entertainment (NYSE:SPHR - Get Free Report) had its target price lifted by analysts at BTIG Research from $127.00 to $190.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target would indicate a potential upside of 39.08% from the stock's current price.

Several other analysts have also recently weighed in on the stock. Seaport Research Partners raised shares of Sphere Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 8th. Citigroup reissued an "outperform" rating on shares of Sphere Entertainment in a research note on Wednesday. Guggenheim boosted their price objective on shares of Sphere Entertainment from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Morgan Stanley boosted their price objective on shares of Sphere Entertainment from $135.00 to $158.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Citizens Jmp began coverage on shares of Sphere Entertainment in a research note on Monday, March 30th. They issued an "outperform" rating and a $150.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $137.17.

Sphere Entertainment Stock Performance

Shares of Sphere Entertainment stock opened at $136.62 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34. Sphere Entertainment has a twelve month low of $27.61 and a twelve month high of $149.00. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -303.59 and a beta of 1.69. The company's fifty day moving average is $120.86 and its 200 day moving average is $99.08.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.82. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The company had revenue of $386.41 million for the quarter, compared to analysts' expectations of $313.41 million. During the same quarter in the previous year, the firm posted ($2.27) earnings per share. Sphere Entertainment's revenue for the quarter was up 37.7% on a year-over-year basis. Sell-side analysts forecast that Sphere Entertainment will post -2.51 EPS for the current year.

Hedge Funds Weigh In On Sphere Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Sphere Entertainment in the first quarter valued at $456,000. Bank of New York Mellon Corp lifted its holdings in Sphere Entertainment by 75.4% in the first quarter. Bank of New York Mellon Corp now owns 146,782 shares of the company's stock valued at $17,232,000 after buying an additional 63,080 shares during the period. Sanctuary Advisors LLC lifted its holdings in Sphere Entertainment by 10.5% in the first quarter. Sanctuary Advisors LLC now owns 2,699 shares of the company's stock valued at $317,000 after buying an additional 257 shares during the period. Maryland State Retirement & Pension System acquired a new position in Sphere Entertainment in the first quarter valued at $454,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Sphere Entertainment during the first quarter valued at about $338,000. Institutional investors and hedge funds 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.

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