Sphere Entertainment Co. (NYSE:SPHR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $94.3846.

SPHR has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Sphere Entertainment from $91.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Morgan Stanley upgraded Sphere Entertainment from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $105.00 in a research report on Thursday, December 18th. Guggenheim lifted their price objective on Sphere Entertainment to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. BTIG Research raised shares of Sphere Entertainment from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a report on Thursday, January 22nd. Finally, Craig Hallum restated a “buy” rating and set a $100.00 target price on shares of Sphere Entertainment in a research note on Thursday, December 18th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quent Capital LLC purchased a new stake in Sphere Entertainment in the 3rd quarter worth $30,000. GAMMA Investing LLC boosted its stake in shares of Sphere Entertainment by 95.3% in the second quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock worth $31,000 after acquiring an additional 363 shares during the period. CWM LLC raised its stake in Sphere Entertainment by 915.3% during the 2nd quarter. CWM LLC now owns 731 shares of the company’s stock valued at $31,000 after purchasing an additional 659 shares during the period. ORG Partners LLC raised 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. Finally, Flagship Harbor Advisors LLC purchased a new position in Sphere Entertainment in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Stock Up 1.2%

Sphere Entertainment stock opened at $96.75 on Friday. Sphere Entertainment has a one year low of $23.89 and a one year high of $101.89. The stock has a fifty day moving average of $90.00 and a 200 day moving average of $67.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $3.42 billion, a PE ratio of -18.71 and a beta of 1.71.

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.