Sphere Entertainment (NYSE:SPHR) Given “Buy” Rating at BTIG Research

Sphere Entertainment (NYSE:SPHR)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research note issued on Tuesday,Benzinga reports. They presently have a $190.00 price target on the stock. BTIG Research’s price target would indicate a potential upside of 38.65% from the company’s current price.

Several other equities research analysts have also commented on the stock. Citizens Jmp increased their price objective on shares of Sphere Entertainment from $150.00 to $175.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Sphere Entertainment in a report on Wednesday, May 6th. Susquehanna increased their price target on Sphere Entertainment from $133.00 to $159.00 and gave the company a “positive” rating in a research report on Wednesday, May 6th. Guggenheim lifted their price target on Sphere Entertainment from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on Sphere Entertainment from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Sphere Entertainment has a consensus rating of “Moderate Buy” and an average target price of $145.92.

Sphere Entertainment Price Performance

Shares of NYSE:SPHR opened at $137.03 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The stock has a market cap of $4.86 billion, a PE ratio of 76.99 and a beta of 1.69. The stock’s fifty day simple moving average is $124.60 and its two-hundred day simple moving average is $103.56. Sphere Entertainment has a 1-year low of $35.58 and a 1-year high of $149.00.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.27. Sphere Entertainment had a net margin of 8.05% and a negative return on equity of 5.07%. The company had revenue of $386.41 million during the quarter, compared to the consensus estimate of $313.41 million. During the same quarter in the prior year, the company posted ($2.27) earnings per share. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, analysts forecast that Sphere Entertainment will post -2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

Several large investors have recently added to or reduced their stakes in SPHR. Hollencrest Capital Management bought a new position in Sphere Entertainment during the fourth quarter worth about $41,000. Caitong International Asset Management Co. Ltd boosted 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 buying an additional 156 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Sphere Entertainment in the 4th quarter valued at approximately $48,000. Flagship Harbor Advisors LLC bought a new stake in Sphere Entertainment during the 4th quarter valued at $52,000. Finally, Parallel Advisors LLC lifted its position in shares of Sphere Entertainment by 275.0% during the first quarter. Parallel Advisors LLC now owns 465 shares of the company’s stock worth $55,000 after acquiring an additional 341 shares in the last quarter. 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.