Sirius XM has had a volatile trajectory off late in terms of its stock price performance and with its results around the corner, another key factor that must be remembered is its history of below par earnings. Even in its last result, the company had an earnings miss and had barely met the revenue expectations of Wall Street as it continued to navigate variability in the customers. The used and new car penetration rates grew. Sirius completed various extensions with the automakers in the last quarter which, includes Mitsubishi and Mazda. The company is making progress in deploying its 360L platform, and it is making progress with various EV start-ups. The management has continued enhancements to its commerce experience to ease and enable sign-ups on the key connected TV platforms which include Roku, LG, Android TV, and Amazon Fire. A new agreement with Comcast closed, including the launch of an audio experience that is fully integrated. One good news for the company is that sports listening in the company’s SXM app continues to rise. A multiyear extension has been announced with Formula 1. The latest acquisition of Team Coco adds to the company’s ever-growing portfolio. Also, the company released an innovative podcast audience targeting capabilities that are AI-powered as a part of its expanded agreement with Comscore. We provide the stock of Sirius with a ‘Hold’ rating with a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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