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 $10.89.
Wold wrote:
“TiVo Corporation (TIVO) is scheduled to report 4Q18 results after the close on a call at 5:00PM ET. While we are comfortable with our unchanged revenue and adjusted EBITDA estimates going into the print, we acknowledge the 4Q18 results are likely to take an understandable backseat to the expected conclusion of the year-long strategic review process. With TIVO shares down 20% since the strategic review was announced on 2/27/18 and down 47% since litigation against Comcast (CMCSA) was first announced on 4/1/16, we believe TIVO shares reflect a zero probability of either a positive outcome from the strategic review (i.e., takeout/sale premium) or a successful settlement/license with Comcast—which we continue to believe is the wrong stance to take.”
According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -4.1% and a 38.3% 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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Based on TiVo Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $22.99 million. In comparison, last year the company had a net profit of $18.44 million.
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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.
