B.Riley FBR analyst Eric Wold reiterated a Buy rating on TiVo Corporation (TIVO) today and set a price target of $23. The company’s shares closed yesterday at $11.13.
Wold wrote:
“After the close on Corporation (TIVO) reported 4Q18 results that came in 1% and 5% below consensus expectations for revenues and non-GAAP EPS. We went into the 4Q18 call with the expectation that the quarterly results would take a significant backseat to the update provided around the strategic review—and we feel no differently coming out of the call. With TIVO shares down 20%+ since the strategic review was announced on 2/27/18 (vs. +2.7% for since litigation against Comcast (CMCSA) was first announced on 4/1/16 (vs. +41.1% for Russell 2000), we believe TIVO shares reflect a zero probability of either a positive outcome from the strategic review or a successful settlement/license with Comcast—which we continue to believe is the wrong stance to take.”
According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.7% and a 37.4% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
TiVo Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $23.
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The company has a one-year high of $15.95 and a one-year low of $8.73. Currently, TiVo Corporation has an average volume of 832.3K.
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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.
