Sirius XM Holdings Inc [SIRI] stock Downgrade by Wells Fargo analyst, price target now $4.50

Sirius XM Holdings Inc [NASDAQ: SIRI] loss -0.48% or -0.02 points to close at $4.16 with a heavy trading volume of 16078282 shares. The company report on February 27, 2024 at 4:30 PM that SiriusXM to Present at the Morgan Stanley Technology, Media and Telecom Conference.

SiriusXM (NASDAQ: SIRI) today announced that Jennifer Witz, Chief Executive Officer, is scheduled to present on March 6, 2024, at 2:05 pm PT at the Morgan Stanley Technology, Media and Telecom Conference in San Francisco, CA. A webcast of the presentation will be available on the Investor Relations section of the SiriusXM website at https://investor.siriusxm.com.

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About Sirius XM Holdings Inc.SiriusXM is the leading audio entertainment company in North America with a portfolio of audio businesses including its flagship subscription entertainment service SiriusXM; the ad-supported and premium music streaming services of Pandora; an expansive podcast network; and a suite of business and advertising solutions. Reaching a combined monthly audience of approximately 150 million listeners, SiriusXM offers a broad range of content for listeners everywhere they tune in with a diverse mix of live, on-demand, and curated programming across music, talk, news, and sports. For more about SiriusXM, please go to: www.siriusxm.com.

The daily chart for SIRI points out that the company has recorded -1.19% loss over the past six months.

If we look at the average trading volume of 13.66M shares, SIRI reached to a volume of 16078282 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Sirius XM Holdings Inc [SIRI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SIRI shares is $4.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SIRI stock is a recommendation set at 3.15. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Sirius XM Holdings Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 23, 2024. While these analysts kept the previous recommendation, Pivotal Research Group raised their target price from $4.50 to $5. The new note on the price target was released on August 02, 2023, representing the official price target for Sirius XM Holdings Inc stock. Previously, the target price had yet another drop from $6.25 to $6, while Deutsche Bank kept a Hold rating on SIRI stock.

The Average True Range (ATR) for Sirius XM Holdings Inc is set at 0.15, with the Price to Sales ratio for SIRI stock in the period of the last 12 months amounting to 1.79. Price to Free Cash Flow for SIRI in the course of the last twelve months was 13.32 with Quick ratio for the last quarter at 0.39.

Trading performance analysis for SIRI stock

Sirius XM Holdings Inc [SIRI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.58. With this latest performance, SIRI shares dropped by -17.95% in over the last four-week period, additionally sinking by -1.19% over the last 6 months – not to mention a rise of 7.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SIRI stock in for the last two-week period is set at 20.63, with the RSI for the last a single of trading hit 14.88, and the three-weeks RSI is set at 27.05 for Sirius XM Holdings Inc [SIRI]. The present Moving Average for the last 50 days of trading for this stock 5.02, while it was recorded at 4.17 for the last single week of trading, and 4.66 for the last 200 days.

Sirius XM Holdings Inc [SIRI]: A deeper dive into fundamental analysis

Sirius XM Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.39 and a Current Ratio set at 0.39.

Sirius XM Holdings Inc [SIRI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Sirius XM Holdings Inc posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at 0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SIRI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sirius XM Holdings Inc go to 7.00%.

An analysis of Institutional ownership at Sirius XM Holdings Inc [SIRI]

The top three institutional holders of SIRI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SIRI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SIRI stock with ownership which is approximately 5.8325%.