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

Key Points

• Bank of America raised its price target on Sphere Entertainment from $110 to $132 while keeping a neutral rating, which implies only about a 1.09% upside from the stock's recent price.
• Analyst sentiment is mostly positive—9 buys, 2 holds, 1 sell—with a consensus "Moderate Buy" and an average target of $114.38, though some firms have set much higher targets (e.g., Guggenheim at $160, National Bank at $136).
• Sphere reported a strong quarter, beating expectations with $1.23 EPS (vs. -$0.12 expected) and revenue of $394.3M (up 27.9% YoY), but the company still posts a negative PE and analysts forecast a -11.47 EPS for the current fiscal year.

Sphere Entertainment (NYSE:SPHR - Get Free Report) had its price objective upped by analysts at Bank of America from $110.00 to $132.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price would indicate a potential upside of 1.09% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Sphere Entertainment from $91.00 to $110.00 and gave the stock an "overweight" rating in a research report on Thursday, January 15th. National Bank Financial set a $136.00 price objective on shares of Sphere Entertainment in a research report on Thursday, January 22nd. New Street Research set a $110.00 target price on shares of Sphere Entertainment in a report on Thursday, January 15th. Benchmark raised shares of Sphere Entertainment from a "sell" rating to a "hold" rating in a report on Tuesday, February 17th. Finally, Guggenheim upped their target price on shares of Sphere Entertainment from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.38.

Sphere Entertainment Stock Performance

NYSE:SPHR opened at $130.57 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $110.76 and a two-hundred day moving average of $90.28. The stock has a market capitalization of $4.64 billion, a PE ratio of -290.16 and a beta of 1.67. Sphere Entertainment has a fifty-two week low of $23.89 and a fifty-two week high of $133.52.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $1.35. The company had revenue of $394.28 million during the quarter, compared to analysts' expectations of $377.60 million. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The firm's revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the prior year, the business posted ($3.49) earnings per share. As a group, research analysts forecast that Sphere Entertainment will post -11.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

Hedge funds have recently modified their holdings of the company. Quent Capital LLC purchased a new stake in shares of Sphere Entertainment in the third quarter valued at about $30,000. ORG Partners LLC grew its holdings in shares of Sphere Entertainment by 80.1% in the third quarter. ORG Partners LLC now owns 661 shares of the company's stock valued at $41,000 after purchasing an additional 294 shares during the period. Hollencrest Capital Management purchased a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $41,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Sphere Entertainment by 53.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company's stock valued at $43,000 after purchasing an additional 156 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Sphere Entertainment in the fourth quarter valued at about $48,000. 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.

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