Benchmark Reiterates Buy Rating on Sphere Entertainment Co.
Benchmark maintains its buy rating for SPHR, setting a $175 price target, a 10.62% upside from the current price.
Key Points
- Benchmark reiterated its buy rating for Sphere Entertainment Co. on June 18, 2026, with a price target of $175.
- Benchmark's $175 price target implies 10.62% upside from Sphere Entertainment Co.'s ($SPHR) current $158.20 share price.
- Shares of SPHR on the NYSE are trading at $152.35, with a market cap of $5.45 billion and a P/E ratio of 51.3.
- Insider buying activity was noted on June 10, 2026, with several insiders acquiring shares at no cost.
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On June 18, 2026, Benchmark reiterated its buy rating on Sphere Entertainment Co. (NYSE: SPHR), maintaining a price target of $175. Analyst Mike Hickey reaffirmed his positive outlook on the company.
Other Institutional Activity in Sphere Entertainment Co.
In recent institutional activity, BlackRock, Inc. increased its holdings in Sphere Entertainment Co. by 1,848,799 shares, bringing its total to 3,907,941 shares valued at approximately $458.8 million. Meanwhile, Jericho Capital Asset Management L.P. maintained its position with 2,605,615 shares worth $305.9 million. Ariel Investments, LLC reduced its stake by 706,225 shares, now holding 2,462,309 shares valued at $289.1 million. Morgan Stanley added 125,124 shares, resulting in a total of 2,046,988 shares worth $240.3 million. Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both initiated new positions, holding 1,541,767 and 1,200,760 shares valued at $181.0 million and $141.0 million, respectively.
Sphere Entertainment Co. Stock Up 11.7%
Shares of Sphere Entertainment Co. (NYSE: SPHR) are trading around $152.35. The company boasts a market cap of $5.45 billion and a P/E ratio of 51.3. The stock's 52-week range is between $37.89 and $160.36. SPHR has a 50-day moving average of $136.86 and a 200-day moving average of $98.92. The company's beta is 1.645, indicating higher volatility compared to the market. Sphere Entertainment Co. has a current ratio of 1.217 and a quick ratio of 1.119, with a debt-to-equity ratio of 41.744.
Recent Earnings
Sphere Entertainment Co. reported revenues of approximately $1.33 billion, with a revenue growth of 37.7%. The company achieved a net margin of 8.58% and a return on equity of 5.46%. Earnings per share stood at $2.97. The next earnings report is scheduled for August 6, 2026.
Insider Buying and Selling at Sphere Entertainment Co.
On June 10, 2026, several insiders at Sphere Entertainment Co. acquired shares at no cost. Thomas Isiah III, Paul Joseph Dolan, Vincent Tese, Kristin Dolan, Brian Sweeney, and Marianne Dolan Weber each bought 1,173 shares, with Kristin Dolan purchasing 1,723 shares. These transactions were not part of any pre-planned trading program.
Analysts Set New Price Targets
On June 18, 2026, Benchmark maintained its buy rating for Sphere Entertainment Co. with a $175 price target. Other recent analyst actions include Citizens maintaining a buy rating with a $200 target on June 17, 2026, and JP Morgan maintaining a buy rating with a $150 target on May 6, 2026. The consensus target price is approximately $163.17, based on 12 analyst opinions.
About Sphere Entertainment Co.
Sphere Entertainment Co., headquartered in New York, NY, operates as a live entertainment and media company in the United States. It runs two main segments: Sphere, which focuses on creating multi-sensory entertainment experiences, and MSG Networks, which provides regional sports and entertainment networks. The company was formerly known as Madison Square Garden Entertainment Corp. and rebranded in April 2023. Led by CEO Mr. James Lawrence Dolan, Sphere employs around 1,100 people.
Bottom Line
Benchmark's reaffirmation of its buy rating and $175 target for Sphere Entertainment Co. reflects ongoing confidence in the company's prospects. With shares trading at $152.35, investors are watching how Sphere's unique offerings in entertainment and media will drive future performance. As always, 13F filings and analyst ratings provide a snapshot of past positions and opinions, not necessarily current or future actions.
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