Rosenblatt Securities Upgrades Sirius XM (NASDAQ:SIRI) to "Buy"

Key Points

• Rosenblatt Securities upgraded Sirius XM from "neutral" to Buy and raised its price target to $46 (up from $24), implying roughly a 64% upside from the prior close.
• Despite the Rosenblatt upgrade, analysts remain mixed: the consensus rating is a "Hold" with an average price target of $26.89 (ratings split roughly 4 Buy, 3 Hold, 3 Sell).
• Sirius XM is trading around $28.06 (near its 52‑week high of $28.44), with a market cap of about $9.44 billion and a P/E of ~12.5.

Sirius XM (NASDAQ:SIRI - Get Free Report) was upgraded by equities researchers at Rosenblatt Securities from a "neutral" rating to a "buy" rating in a research report issued on Thursday, MarketBeat reports. The firm presently has a $46.00 target price on the stock, up from their prior target price of $24.00. Rosenblatt Securities' price target would indicate a potential upside of 63.93% from the stock's previous close.

SIRI has been the topic of several other reports. Weiss Ratings lowered shares of Sirius XM from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, February 6th. Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research note on Thursday, February 5th. JPMorgan Chase & Co. raised shares of Sirius XM from an "underweight" rating to a "neutral" rating and raised their price target for the company from $20.00 to $24.00 in a research note on Tuesday, February 10th. UBS Group set a $24.00 price target on shares of Sirius XM in a research note on Tuesday, February 10th. Finally, Moffett Nathanson started coverage on shares of Sirius XM in a research note on Tuesday, January 27th. They issued a "neutral" rating and a $21.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Sirius XM presently has a consensus rating of "Hold" and a consensus price target of $26.89.

Sirius XM Price Performance

Shares of SIRI opened at $28.06 on Thursday. The business's 50-day moving average is $22.80 and its two-hundred day moving average is $21.77. The company has a market capitalization of $9.44 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.30 and a current ratio of 0.30. Sirius XM has a fifty-two week low of $19.41 and a fifty-two week high of $28.44.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock worth $41,000 after purchasing an additional 493 shares in the last quarter. Krilogy Financial LLC lifted its stake in Sirius XM by 1.1% in the 4th quarter. Krilogy Financial LLC now owns 53,572 shares of the company's stock worth $1,097,000 after purchasing an additional 577 shares in the last quarter. Rossby Financial LCC lifted its stake in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company's stock worth $32,000 after purchasing an additional 593 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Sirius XM by 4.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company's stock worth $272,000 after purchasing an additional 594 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Sirius XM by 2.0% in the 4th quarter. Corient Private Wealth LLC now owns 31,263 shares of the company's stock worth $625,000 after purchasing an additional 615 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM's offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.

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