Sphere Entertainment Co. (NYSE:SPHR) Stock Has Consensus Price Target of $162.27 According to Analysts

Shares of Sphere Entertainment Co. (NYSE:SPHR) have earned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $160.93.

A number of brokerages have recently issued reports on SPHR. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 target price (down from $185.00) on shares of Sphere Entertainment in a report on Friday, October 23rd. Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a report on Tuesday, October 6th. Seaport Research Partners set a $160.00 price target on Sphere Entertainment in a research report on Wednesday, October 7th. Guggenheim dropped their price objective on Sphere Entertainment from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. Finally, Craig Hallum cut Sphere Entertainment from a “buy” rating to a “hold” rating and set a $132.00 price objective for the company. in a research report on Monday, October 5th.

Sphere Entertainment Stock Up 3.9%

NYSE:SPHR opened at $114.71 on Friday. The stock’s 50 day moving average price is $131.97 and its two-hundred day moving average price is $129.83. Sphere Entertainment has a twelve month low of $64.00 and a twelve month high of $181.63.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.44. The firm had revenue of $313.64 million during the quarter, compared to analyst estimates of $307.44 million. During the same quarter in the prior year, the business earned $3.39 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts anticipate that Sphere Entertainment will post -2.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Sphere Entertainment

A number of large investors have recently added to or reduced their stakes in SPHR. Oppenheimer & Co. Inc. boosted its position in Sphere Entertainment by 64.7% during the third quarter. Oppenheimer & Co. Inc. now owns 5,402 shares of the company’s stock worth $726,000 after purchasing an additional 2,122 shares during the period. Signaturefd LLC grew its stake in Sphere Entertainment by 204.9% in the 3rd quarter. Signaturefd LLC now owns 186 shares of the company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Sphere Entertainment in the 3rd quarter valued at about $201,000. Kercheville Advisors LLC bought a new position in Sphere Entertainment in the 3rd quarter valued at about $336,000. Finally, Assenagon Asset Management S.A. raised its holdings in Sphere Entertainment by 114.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 871,484 shares of the company’s stock valued at $117,162,000 after acquiring an additional 464,609 shares during the period. Institutional investors own 92.03% of the company’s stock.

Sphere Entertainment Company Profile

Sphere Entertainment Co is an entertainment and media company focused on immersive live experiences and sports and entertainment programming. Its principal asset is Sphere, a next-generation venue in Las Vegas featuring a large exterior LED display, a high-resolution interior screen, advanced audio technology and immersive production capabilities.

Sphere presents concerts, residencies, films and other experiences, while its Sphere Studios business develops original content and technology for the venue and other immersive applications.