Wells Fargo & Company Issues Positive Forecast for Sirius XM (NASDAQ:SIRI) Stock Price

Key Points

• Wells Fargo raised its Sirius XM price target from $31 to $33 while maintaining an “equal weight” rating, implying approximately 14.78% upside from the reported share price.
• Analyst sentiment remains mixed: Sirius XM has an overall “Hold” consensus rating and an average price target of $32.54, with ratings ranging from Buy to Sell.
• Sirius XM slightly beat quarterly earnings expectations at $0.78 per share versus $0.77, but revenue of $2.15 billion fell short of estimates and declined year over year.

Sirius XM (NASDAQ:SIRI - Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $31.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 14.78% from the stock's current price.

A number of other equities research analysts have also recently weighed in on SIRI. William Blair upgraded Sirius XM to a "market perform" rating in a research note on Wednesday, September 2nd. Citigroup restated a "sell" rating and set a $25.00 target price (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Benchmark restated a "buy" rating on shares of Sirius XM in a research report on Wednesday, July 29th. Bank of America reaffirmed an "underperform" rating on shares of Sirius XM in a report on Friday, July 31st. Finally, Scotiabank started coverage on shares of Sirius XM in a research report on Wednesday, September 2nd. They issued an "outperform" rating for the company. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.54.

Sirius XM Stock Performance

Shares of SIRI stock traded up $0.08 during mid-day trading on Friday, hitting $28.75. 2,874,182 shares of the stock were exchanged, compared to its average volume of 4,780,190. The stock's fifty day simple moving average is $27.51 and its two-hundred day simple moving average is $26.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. Sirius XM has a 12-month low of $19.76 and a 12-month high of $32.66. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.50 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. On average, analysts forecast that Sirius XM will post 2.98 EPS for the current year.

Insider Activity

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.27% of the company's stock.

Institutional Investors Weigh In On Sirius XM

Several institutional investors have recently made changes to their positions in the stock. Associated Banc Corp acquired a new position in shares of Sirius XM during the third quarter worth $2,821,000. Capital Management Corp VA grew its stake in Sirius XM by 4.3% during the 3rd quarter. Capital Management Corp VA now owns 444,919 shares of the company's stock valued at $11,514,000 after purchasing an additional 18,528 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sirius XM in the third quarter worth $128,000. CHICAGO TRUST Co NA boosted its stake in Sirius XM by 11.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 8,703 shares of the company's stock valued at $225,000 after acquiring an additional 875 shares during the last quarter. Finally, Childress Capital Advisors LLC acquired a new position in Sirius XM during the 3rd quarter worth $253,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Higher free-cash-flow guidance: Sirius XM raised its 2026 free cash flow outlook to $1.4 billion and lifted full-year revenue guidance to approximately $8.55 billion, supporting the stock’s income and cash-generation case. SiriusXM expects $1.4B 2026 free cash flow as it raises guidance to $8.55B revenue
• Positive Sentiment: Subscriber trends improved: Self-pay net additions reached 5,000 in the third quarter, while the overall subscriber base held steady at roughly 33 million. The stabilization reduces concerns about continued customer erosion. Sirius XM: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Earnings modestly beat expectations: Third-quarter adjusted earnings were $0.78 per share, above the roughly $0.77 consensus estimate. Sirius XM also reported nearly 20% higher listenership for WWE Radio after its rebrand, providing a positive engagement signal. Sirius XM Tops Q3 Earnings Estimates
• Neutral Sentiment: Broader market backdrop: Sirius XM edged higher alongside mixed media stocks, but the Federal Reserve’s comments about the pace of policy changes could influence interest-rate-sensitive valuations more broadly. Fed's Barkin says US central bank's direction is straightforward
• Negative Sentiment: Revenue remains under pressure: Third-quarter revenue was $2.15 billion, slightly below estimates and down year over year, while earnings declined from $0.84 per share in the prior-year quarter. The $8.55 billion revenue outlook was also modestly below analysts’ consensus. SiriusXM lifts full-year forecasts as Q3 revenue misses estimates

About Sirius XM

Sirius XM Holdings Inc is a media and entertainment company that provides subscription-based audio programming through its SiriusXM service. The company delivers a broad range of commercial-free music, live sports, news, talk and entertainment programming, including exclusive channels, original shows and coverage of major events.

SiriusXM content is distributed primarily through satellite radio and internet streaming. Subscribers can access the service in vehicles, through the SiriusXM mobile app and website, and on supported connected devices.

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