10 Oversold Growth Stocks to Invest In

6) Sirius XM Holdings Inc. (NASDAQ:SIRI)

Forward P/E (As of 14 October): 7.66x

% Decline on a YD Basis: ~50%

Number of Hedge Fund Holders: 33

Sirius XM Holdings Inc. (NASDAQ:SIRI) is engaged in operating as an audio entertainment company in North America.

Sirius XM Holdings Inc. (NASDAQ:SIRI) is focused on boosting its subscription and advertising businesses, which include the roll-out of new subscription bundles and targeted IP-delivered advertising utilizing the 360L platform. There are plans to open a European tech hub and the company continues to focus on cost optimization and strategic investments. Overall, Sirius XM Holdings Inc. (NASDAQ:SIRI)’s focus remains on growing its advertising business, updating subscription packages, and growing the talk business (mainly in the podcasting space).

The strategic focus of Sirius XM Holdings Inc. (NASDAQ:SIRI) on enhancing customer experience and leading content portfolios should continue to act as tailwinds. Moreover, Berkshire Hathaway expanded its stake in the company, purchasing an additional 3.6 million shares. The conglomerate now has ~32% of ownership interest. Market experts opine that the company’s potential as a robust consumer brand continues to align with Buffett’s investment principles.

The advanced 360L radios in vehicles, streaming services, and the appeal to younger demographics should continue to provide growth opportunities to Sirius XM Holdings Inc. (NASDAQ:SIRI) in the near term. The market analysts are optimistic about the company’s strong FCF capabilities and potential for growth.

For FY 2024, Sirius XM Holdings Inc. (NASDAQ:SIRI) expects total revenue of ~$8.75 billion and adjusted EBITDA of ~$2.70 billion. Analysts at Barrington Research reiterated an “Outperform” rating on the company’s shares, issuing a $47.50 price target on 15^th July.