Wells Fargo & Company Increases Sirius XM (NASDAQ:SIRI) Price Target to $31.00

Key Points

• Wells Fargo raised its Sirius XM price target to $31 from $30 while maintaining an “equal weight” rating, implying roughly 1.96% upside from the prior close.
• Analyst sentiment remains mixed: Sirius XM has an overall “Hold” rating, with four Buy, five Hold, and three Sell recommendations and an average price target of $29.82.
• Sirius XM’s latest quarter showed revenue of $2.16 billion, slightly ahead of estimates and up 1% year over year, but EPS of $0.70 missed the $0.78 consensus estimate.

Sirius XM (NASDAQ:SIRI - Get Free Report) had its price objective boosted by investment analysts at Wells Fargo & Company from $30.00 to $31.00 in a report released on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 1.96% from the stock's previous close.

A number of other analysts have also weighed in on the stock. Evercore set a $28.00 price target on shares of Sirius XM in a report on Friday, May 1st. Citigroup restated a "sell" rating on shares of Sirius XM in a research report on Friday. JPMorgan Chase & Co. increased their target price on Sirius XM from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Weiss Ratings raised Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $45.00 price objective on shares of Sirius XM in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $29.82.

Sirius XM Stock Performance

Shares of NASDAQ SIRI traded down $0.57 during midday trading on Friday, reaching $30.40. 692,560 shares of the company traded hands, compared to its average volume of 5,039,153. Sirius XM has a 52 week low of $19.76 and a 52 week high of $32.66. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a 50-day moving average price of $29.34 and a 200 day moving average price of $25.30. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.70 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.08). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. Sell-side analysts anticipate that Sirius XM will post 3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the transaction, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.27% of the company's stock.

Institutional Trading of Sirius XM

Large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its holdings in Sirius XM by 3.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company's stock worth $322,000 after acquiring an additional 340 shares in the last quarter. Altshuler Shaham Ltd raised its stake in Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company's stock worth $36,000 after acquiring an additional 417 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in 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 acquiring an additional 493 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Sirius XM by 5.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company's stock valued at $291,000 after buying an additional 509 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Sirius XM by 28.0% during the second quarter. Versant Capital Management Inc now owns 2,562 shares of the company's stock worth $76,000 after buying an additional 560 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other institutional investors.

Key Sirius XM News

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

• Positive Sentiment: Sirius XM returned to positive net subscriber growth, adding 22,000 subscribers, while reporting historically low churn. Advertising performance and free cash flow were also described as strong. Sirius XM Q2 2026 earnings call highlights
• Positive Sentiment: Management raised its 2026 targets, including approximately $8.525 billion in revenue and $1.375 billion in free cash flow; the free-cash-flow outlook was increased by $25 million. SiriusXM 2026 targets
• Positive Sentiment: The company launched a $5-per-month Sports Pass featuring sports audio content, including WWE Radio. The offering could broaden Sirius XM’s appeal and create another subscription revenue opportunity. SiriusXM sports plan
• Neutral Sentiment: Wells Fargo upgraded Sirius XM, while Rosenblatt Securities reiterated a Buy rating, signaling that some analysts view the valuation and cash-flow profile favorably despite near-term execution concerns. Sirius XM upgraded at Wells Fargo
• Negative Sentiment: Second-quarter EPS was $0.70, below the $0.78 consensus estimate, although revenue of $2.16 billion modestly exceeded expectations and increased 1% year over year. The earnings shortfall and underwhelming outlook are the primary reasons the stock has decreased. SiriusXM shares after second-quarter earnings
• Negative Sentiment: Chief Operating Officer Wayne Thorsen is leaving amid a restructuring, adding leadership-transition uncertainty as Sirius XM works to improve growth and profitability. Sirius XM COO departure

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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