Sphere Entertainment (NYSE:SPHR) Price Target Raised to $150.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Sphere to $150 from $143 with an "overweight" rating, joining several other upgrades and leaving the consensus price target near $145.92 amid a majority of analysts rating the stock Buy.
• Q1 results materially beat estimates: EPS of ($0.04) vs. ($0.86) expected and revenue of $386.4M vs. $313.4M expected (revenue +37.7% YoY), sending the stock up about 5.8% to $144.48.
• Profitability remains a concern: the company still shows negative return on equity and analysts expect negative full-year EPS (around -$2.51), which could cap upside if growth or margins weaken.

Sphere Entertainment (NYSE:SPHR - Get Free Report) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $143.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 3.82% from the company's current price.

SPHR has been the topic of several other reports. Seaport Research Partners upgraded Sphere Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 8th. Citigroup restated an "outperform" rating on shares of Sphere Entertainment in a research note on Wednesday. New Street Research set a $110.00 target price on Sphere Entertainment in a research note on Thursday, January 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Sphere Entertainment in a research note on Monday, April 20th. Finally, Benchmark upgraded Sphere Entertainment from a "hold" rating to a "buy" rating and set a $155.00 target price on the stock in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sphere Entertainment has an average rating of "Moderate Buy" and a consensus price target of $145.92.

Sphere Entertainment Stock Up 5.8%

Shares of NYSE:SPHR traded up $7.88 on Wednesday, reaching $144.48. The company had a trading volume of 621,327 shares, compared to its average volume of 814,485. Sphere Entertainment has a 52-week low of $29.25 and a 52-week high of $149.00. The firm's 50 day simple moving average is $120.86 and its 200-day simple moving average is $99.08. The firm has a market capitalization of $5.13 billion, a PE ratio of -321.06 and a beta of 1.69. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.86) by $0.82. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The business had revenue of $386.41 million for the quarter, compared to the consensus estimate of $313.41 million. During the same period last year, the business posted ($2.27) EPS. The business's revenue was up 37.7% compared to the same quarter last year. As a group, analysts expect that Sphere Entertainment will post -2.51 earnings per share for the current fiscal year.

Institutional Trading of Sphere Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $2,937,000. Legato Capital Management LLC acquired a new position in shares of Sphere Entertainment in the 3rd quarter valued at about $661,000. Kelleher Financial Advisors acquired a new position in shares of Sphere Entertainment in the 4th quarter valued at about $389,000. Citigroup Inc. lifted its holdings in shares of Sphere Entertainment by 94.0% in the 3rd quarter. Citigroup Inc. now owns 50,592 shares of the company's stock valued at $3,143,000 after buying an additional 24,520 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Sphere Entertainment by 146.1% in the 3rd quarter. New York State Common Retirement Fund now owns 20,784 shares of the company's stock valued at $1,291,000 after buying an additional 12,338 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

More Sphere Entertainment News

Here are the key news stories impacting Sphere Entertainment this week:

• Positive Sentiment: Multiple large analyst upgrades and price-target increases today — signals of growing street conviction (Citizens Jmp to $175, Susquehanna to $159, Benchmark to buy at $155, BTIG to $190). These raise the implied upside and likely attracted buying. Benzinga The Fly Finviz
• Positive Sentiment: Q1 results materially beat estimates: strong revenue (~$386.4M vs. est. ~$313M) and EPS ahead of consensus, with revenue up ~38% YoY — a fundamental driver for re-rating. Business Wire — Q1 Results Zacks — Q1 Beat
• Positive Sentiment: Company continues expansion plans (mentions progress on Sphere venues in Abu Dhabi and National Harbor and discussions with other markets) — supports growth narrative and longer-term revenue visibility. Business Wire — Expansion Plans
• Neutral Sentiment: Full Q1 earnings call transcript now available for investors to assess management commentary and guidance. Useful for due diligence but neutral until it changes guidance materially. Seeking Alpha — Q1 Call Transcript
• Negative Sentiment: Despite the beat, the company still shows legacy profitability issues on some metrics — negative return on equity and analysts' average forecast for FY EPS remains negative, which could limit upside if growth slows or margins compress. MarketBeat — Q1 Summary

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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