Piper Jaffray Companies Reiterates $7.00 Price Target for Sirius XM Holdings Inc. (SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned a $7.00 price objective by Piper Jaffray Companies in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Piper Jaffray Companies’ price objective indicates a potential upside of 22.38% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Bank of America Corporation raised their target price on Sirius XM Holdings from $6.10 to $6.50 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut Sirius XM Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Royal Bank Of Canada assumed coverage on Sirius XM Holdings in a research report on Friday, September 15th. They issued a “sector perform” rating and a $6.00 target price on the stock. KeyCorp reissued a “hold” rating on shares of Sirius XM Holdings in a research report on Friday, August 25th. Finally, Citigroup Inc. raised their target price on Sirius XM Holdings from $5.50 to $6.65 and gave the stock a “buy” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $5.92.

Shares of Sirius XM Holdings (NASDAQ:SIRI) traded down 0.262% during trading on Wednesday, hitting $5.705. 7,515,012 shares of the company were exchanged. The stock has a market capitalization of $26.32 billion, a PE ratio of 33.559 and a beta of 1.07. The company has a 50 day moving average of $5.57 and a 200-day moving average of $5.34. Sirius XM Holdings has a 1-year low of $4.05 and a 1-year high of $5.89.

Sirius XM Holdings (NASDAQ:SIRI) last announced its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Sirius XM Holdings had a negative return on equity of 99.07% and a net margin of 15.47%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. On average, analysts forecast that Sirius XM Holdings will post $0.18 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of SIRI. UBS Asset Management Americas Inc. lifted its position in shares of Sirius XM Holdings by 5.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 4,771,474 shares of the company’s stock valued at $24,573,000 after buying an additional 261,045 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Sirius XM Holdings by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 225,013 shares of the company’s stock valued at $1,159,000 after buying an additional 1,753 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Sirius XM Holdings by 2.0% during the 1st quarter. Stifel Financial Corp now owns 92,646 shares of the company’s stock valued at $481,000 after buying an additional 1,849 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Sirius XM Holdings by 1.5% during the 1st quarter. Blair William & Co. IL now owns 38,211 shares of the company’s stock valued at $195,000 after buying an additional 551 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Sirius XM Holdings by 1.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 28,866 shares of the company’s stock valued at $149,000 after buying an additional 493 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Holdings Company Profile

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

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