Sirius XM (NASDAQ:SIRI) Stock: Analyst Buy Rating Ahead of Q2 Earnings
Benchmark reiterated a Buy rating for Sirius XM (NASDAQ:SIRI) with the stock trading at $31.79 , just before its Q2 earnings report . Analysts project $0.78 EPS (a 36.8% increase) and $2.14 billion in revenues for Q2. Wells Fargo (NYSE: WFC) upgraded Sirius XM, raising its price
- Benchmark reiterated a Buy rating for Sirius XM (NASDAQ:SIRI) with the stock trading at $31.79, just before its Q2 earnings report.
- Analysts project $0.78 EPS (a 36.8% increase) and $2.14 billion in revenues for Q2.
- Wells Fargo (NYSE: WFC) upgraded Sirius XM, raising its price target to $30.00 due to a revaluation of spectrum assets to $5.00 billion.
Sirius XM is a leading audio entertainment company in North America. It primarily offers satellite radio and online radio services, providing a wide range of music, sports, news, and talk channels. As a mature business, its financial performance is closely watched by investors for signs of stable growth and profitability.
On July 29, 2026, analyst firm Benchmark reiterated its Buy rating for Sirius XM. This positive outlook was issued when the stock was trading at a price of $31.79. The rating comes just before the company is scheduled to release its second-quarter earnings report on July 30, an event that could influence the stock's short-term direction.
Wall Street analysts forecast an earnings per share (EPS) of $0.78 for the quarter, which represents a 36.8% increase from the previous year. EPS is a measure of a company's profit per outstanding share of stock. At the same time, revenues are projected to reach $2.14 billion, a slight 0.1% rise compared to the same quarter last year.
This bullish sentiment is shared by other firms. As highlighted by 24/7 Wall Street, Wells Fargo (NYSE: WFC) upgraded Sirius XM from Underweight to Equal Weight, raising its price target to $30.00. This change is due to a major revaluation of the company's spectrum assets, which are now estimated to be worth $5.00 billion, up from $1.00 billion.
The stock has already seen a significant price increase of 54% in 2026. As The Motley Fool reports, investors are now focusing more on metrics like free cash flow and full-year guidance rather than subscriber numbers. This shift in focus is common for established companies like Sirius XM.
Originally published by fmp.
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