Sirius XM (NASDAQ:SIRI) Given New $23.00 Price Target at Rosenblatt Securities

Key Points

• Sirius XM's price target has been raised by Rosenblatt Securities from $22.00 to $23.00, reflecting a potential upside of 8.59% from the current stock price.
• Various analysts have differing views on the stock, with ratings ranging from "strong buy" to "underweight," leading to a consensus rating of "Hold" and a target price of $26.50.
• In its latest earnings report, Sirius XM reported a missing EPS estimate, earning $0.57 per share compared to the anticipated $0.79, and experienced a revenue decline of 1.8% year-over-year.

Sirius XM (NASDAQ:SIRI - Get Free Report) had its price objective upped by research analysts at Rosenblatt Securities from $22.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Rosenblatt Securities' price objective indicates a potential upside of 8.59% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their target price on Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday. Barrington Research reiterated an "outperform" rating and set a $28.00 price target on shares of Sirius XM in a research report on Friday. Morgan Stanley upped their price objective on Sirius XM from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Finally, Guggenheim reaffirmed a "buy" rating and set a $29.00 target price on shares of Sirius XM in a report on Thursday, June 26th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $26.50.

Sirius XM Price Performance

NASDAQ SIRI opened at $21.18 on Monday. The company has a market cap of $7.16 billion, a price-to-earnings ratio of -3.14, a PEG ratio of 0.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.41 and a quick ratio of 0.41. The stock's fifty day moving average price is $22.79 and its 200 day moving average price is $22.72. Sirius XM has a 1 year low of $18.69 and a 1 year high of $36.40.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.22). Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Sirius XM will post 3.2 earnings per share for the current year.

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total transaction of $36,767.77. Following the transaction, the director directly owned 15,471 shares in the company, valued at $344,539.17. The trade was a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.32% of the company's stock.

Institutional Trading of Sirius XM

Large investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in shares of Sirius XM during the 1st quarter worth $25,000. Putney Financial Group LLC acquired a new position in Sirius XM in the 4th quarter valued at about $27,000. Deseret Mutual Benefit Administrators grew its stake in shares of Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock valued at $36,000 after buying an additional 705 shares during the period. Quaker Wealth Management LLC increased its holdings in shares of Sirius XM by 214.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company's stock worth $37,000 after buying an additional 3,001 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company's stock valued at $41,000 after buying an additional 493 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.

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