Sirius-ly, This Stock Can Almost Double, Says Analyst
SiriusXM is going after streaming music on the internet and taking it into your car, specifically in new Fords. SiriusXM and Ford announced this week that they will offer both SiriusXM and the SiriusXM Internet Radio app.
The app is an acknowledgement of a new reality: streaming music is quickly becoming a threat to SiriusXM and it has to fight back to remain relevant in the long run. Large players such as Google and Apple have also jumped in, taking on smaller companies such as Pandora, Spotify, and Rdio.
The company has come a long way from its days as CDRadio back in the '90s and before it merged with XM Radio. At the height of the tech bubble in 2000, shares in the company were worth 18 times more than it they are today. It's been a rough road for the company since then. However, the past twelve months have been very good for shareholders – it's up 75%.
What does the future hold for those holding SiriusXM stock? We asked Talking Numbers contributors Enis Taner, Global Macro Editor at RiskReversal.com, to look at the fundamentals and Richard Ross, Global Technical Strategist at Auerbach Grayson, to analyze the technicals. One is bearish, one is bullish. Which one is right?
To hear if SiriusXM's stock has a good beat for your portfolio to dance to, watch the video above.