Sphere Entertainment (NYSE:SPHR) Stock Price Expected to Rise, Guggenheim Analyst Says

Key Points

• Guggenheim raised its target on Sphere Entertainment from $150 to $160 and kept a "buy" rating, implying roughly a 33.1% upside from the current share price.
• Analyst coverage is broadly positive — nine Buys, two Holds and one Sell — giving a consensus rating of "Moderate Buy" with a consensus price target of $110.46, which is below Guggenheim’s target.
• Sphere posted a strong quarter, reporting $1.23 EPS (vs. a -$0.12 estimate) and $394.3M revenue (+27.9% YoY), yet analysts still expect a deeply negative full-year EPS of -11.47.

Sphere Entertainment (NYSE:SPHR - Get Free Report) had its target price raised by research analysts at Guggenheim from $150.00 to $160.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's target price points to a potential upside of 33.10% from the stock's current price.

Several other equities research analysts also recently weighed in on SPHR. Morgan Stanley reissued an "overweight" rating and issued a $135.00 target price on shares of Sphere Entertainment in a research report on Friday, February 13th. Craig Hallum reaffirmed a "buy" rating and set a $100.00 price target on shares of Sphere Entertainment in a research report on Thursday, December 18th. The Goldman Sachs Group reiterated a "buy" rating and issued a $126.00 price target on shares of Sphere Entertainment in a research note on Friday, February 13th. Bank of America upped their price objective on Sphere Entertainment from $48.00 to $95.00 and gave the company a "neutral" rating in a research note on Friday, December 19th. Finally, National Bank Financial set a $136.00 target price on Sphere Entertainment in a report on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.46.

Sphere Entertainment Stock Up 0.3%

SPHR stock traded up $0.40 during trading on Thursday, reaching $120.21. The stock had a trading volume of 88,205 shares, compared to its average volume of 856,733. Sphere Entertainment has a 1-year low of $23.89 and a 1-year high of $123.61. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.27 billion, a P/E ratio of -267.13 and a beta of 1.67. The firm has a fifty day moving average price of $107.68 and a 200 day moving average price of $87.95.

Sphere Entertainment (NYSE:SPHR - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The company had revenue of $394.28 million during the quarter, compared to the consensus estimate of $377.60 million. During the same period last year, the firm earned ($3.49) earnings per share. The company's revenue was up 27.9% on a year-over-year basis. On average, equities analysts anticipate that Sphere Entertainment will post -11.47 earnings per share for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Large investors have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in shares of Sphere Entertainment in the 3rd quarter worth about $30,000. ORG Partners LLC boosted its stake in Sphere Entertainment by 80.1% during the 3rd 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 bought a new position in Sphere Entertainment in the 4th quarter worth about $41,000. Caitong International Asset Management Co. Ltd grew its position in Sphere Entertainment by 53.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company's stock worth $43,000 after purchasing an additional 156 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Sphere Entertainment in the fourth quarter valued at approximately $48,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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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