Brokerages Set Sphere Entertainment Co. (NYSE:SPHR) PT at $78.70

Sphere Entertainment Co. (NYSE:SPHR) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $78.70.

Several brokerages have recently commented on SPHR. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Sphere Entertainment from $80.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Guggenheim increased their price target on Sphere Entertainment from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. BTIG Research initiated coverage on shares of Sphere Entertainment in a report on Monday, October 6th. They set a “neutral” rating on the stock. Finally, Craig Hallum reiterated a “buy” rating and issued a $100.00 target price on shares of Sphere Entertainment in a research note on Thursday, December 18th.

Institutional Investors Weigh In On Sphere Entertainment

A number of institutional investors have recently added to or reduced their stakes in SPHR. IFP Advisors Inc bought a new position in shares of Sphere Entertainment during the 3rd quarter worth approximately $124,000. Penn Capital Management Company LLC purchased a new stake in shares of Sphere Entertainment during the third quarter valued at approximately $438,000. CIBC Bancorp USA Inc. bought a new stake in Sphere Entertainment during the third quarter worth $296,000. Advisory Services Network LLC lifted its holdings in Sphere Entertainment by 5.9% during the third quarter. Advisory Services Network LLC now owns 7,858 shares of the company’s stock worth $488,000 after acquiring an additional 440 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Sphere Entertainment by 576.6% in the third quarter. NewEdge Advisors LLC now owns 927 shares of the company’s stock worth $58,000 after purchasing an additional 790 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Trading Down 0.9%

NYSE:SPHR opened at $94.26 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96. Sphere Entertainment has a one year low of $23.89 and a one year high of $97.20. The company has a market cap of $3.33 billion, a PE ratio of -18.23 and a beta of 1.71. The firm has a 50-day moving average of $82.45 and a 200-day moving average of $60.79.

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.