Sphere Entertainment (NYSE:SPHR) Given New $140.00 Price Target at The Goldman Sachs Group

Sphere Entertainment (NYSE:SPHR) had its target price upped by analysts at The Goldman Sachs Group from $126.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 8.03% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Morgan Stanley reissued an “overweight” rating and issued a $135.00 price target on shares of Sphere Entertainment in a research note on Friday, February 13th. National Bank Financial set a $136.00 target price on Sphere Entertainment in a research note on Thursday, January 22nd. Wolfe Research reaffirmed an “outperform” rating and set a $105.00 target price on shares of Sphere Entertainment in a research note on Monday, December 15th. New Street Research set a $110.00 target price on Sphere Entertainment in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.54.

Sphere Entertainment Stock Performance

Shares of NYSE:SPHR traded up $5.35 on Wednesday, hitting $129.60. The company’s stock had a trading volume of 353,998 shares, compared to its average volume of 855,481. Sphere Entertainment has a 12 month low of $23.89 and a 12 month high of $133.52. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -287.62 and a beta of 1.67. The stock’s 50-day moving average is $110.04 and its two-hundred day moving average is $90.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09.

Sphere Entertainment (NYSE:SPHR) last released its quarterly earnings results on Thursday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The company had revenue of $394.28 million during the quarter, compared to analysts’ expectations of $377.60 million. During the same quarter in the prior year, the business posted ($3.49) earnings per share. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, equities research analysts forecast that Sphere Entertainment will post -11.47 EPS for the current year.

Institutional Investors Weigh In On Sphere Entertainment

Hedge funds have recently modified their holdings of the stock. Quent Capital LLC purchased a new stake in shares of Sphere Entertainment during the third quarter valued at $30,000. ORG Partners LLC lifted its holdings in shares of Sphere Entertainment by 80.1% during the third 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 last quarter. Hollencrest Capital Management purchased a new stake in shares of Sphere Entertainment during the fourth quarter valued at $41,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Sphere Entertainment by 53.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock valued at $43,000 after purchasing an additional 156 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Sphere Entertainment during the fourth quarter valued at $48,000. 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.