Morgan Stanley Raises Sphere Entertainment (NYSE:SPHR) Price Target to $158.00

Sphere Entertainment (NYSE:SPHR) had its target price hoisted by equities researchers at Morgan Stanley from $135.00 to $158.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 10.80% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. National Bank Financial set a $136.00 target price on shares of Sphere Entertainment in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted their target price on shares of Sphere Entertainment from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. New Street Research set a $110.00 price target on shares of Sphere Entertainment in a report on Thursday, January 15th. Finally, Citizens Jmp assumed coverage on shares of Sphere Entertainment in a report on Monday, March 30th. They set an “outperform” rating and a $150.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.75.

Sphere Entertainment Trading Up 2.6%

Shares of NYSE:SPHR opened at $142.61 on Friday. The firm has a fifty day moving average of $120.41 and a two-hundred day moving average of $98.05. The firm has a market capitalization of $5.06 billion, a P/E ratio of -316.90 and a beta of 1.67. Sphere Entertainment has a 12-month low of $26.54 and a 12-month high of $142.66. 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 (NYSE:SPHR) last issued its earnings results on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.35. The company had revenue of $394.28 million during the quarter, compared to analyst estimates of $377.60 million. Sphere Entertainment had a net margin of 2.16% and a negative return on equity of 8.84%. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the business posted ($3.49) EPS. On average, equities analysts expect that Sphere Entertainment will post -2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPHR. Quent Capital LLC bought a new position in Sphere Entertainment in the 3rd quarter worth $30,000. ORG Partners LLC raised its holdings in Sphere Entertainment by 80.1% in the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after acquiring an additional 294 shares during the period. Hollencrest Capital Management bought a new position in Sphere Entertainment in the 4th quarter worth $41,000. Caitong International Asset Management Co. Ltd raised its holdings 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 acquiring an additional 156 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Sphere Entertainment in the 4th quarter worth $48,000. 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.