Sphere Entertainment (NYSE:SPHR – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research note issued to investors on Monday,Benzinga reports. They presently have a $190.00 target price on the stock. BTIG Research’s price objective indicates a potential upside of 39.55% from the company’s previous close.
A number of other equities research analysts have also weighed in on SPHR. Citizens Jmp lifted their target price on shares of Sphere Entertainment from $175.00 to $200.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Sphere Entertainment in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Sphere Entertainment from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Seaport Research Partners restated a “buy” rating and issued a $173.00 price objective on shares of Sphere Entertainment in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on Sphere Entertainment from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.08.
View Our Latest Stock Analysis on Sphere Entertainment
Sphere Entertainment Stock Down 0.1%
Sphere Entertainment (NYSE:SPHR – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The business had revenue of $386.41 million during the quarter, compared to analysts’ expectations of $313.41 million. During the same quarter last year, the business posted ($2.27) EPS. The business’s revenue was up 37.7% on a year-over-year basis. Sell-side analysts forecast that Sphere Entertainment will post -2.44 earnings per share for the current year.
Institutional Trading of Sphere Entertainment
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Sphere Entertainment by 7.1% during the second quarter. GAMMA Investing LLC now owns 961 shares of the company’s stock valued at $166,000 after purchasing an additional 64 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Sphere Entertainment by 19.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 608 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the period. Vision Retirement LLC raised its holdings in Sphere Entertainment by 38.0% during the first quarter. Vision Retirement LLC now owns 483 shares of the company’s stock valued at $57,000 after acquiring an additional 133 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Sphere Entertainment by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,263 shares of the company’s stock worth $3,448,000 after purchasing an additional 145 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake 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 period. 92.03% of the stock is owned by hedge funds and other institutional investors.
Sphere Entertainment Company Profile
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.
Featured Stories
- Five stocks we like better than Sphere Entertainment
- Meta Earnings Put AI Spending and Ad Growth Back in Focus
- These 3 AI Winners Don’t Sell the Tech—They Use It
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
Receive News & Ratings for Sphere Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sphere Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.
