In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on TiVo Corporation (TIVO), with a price target of $23. The company’s shares closed yesterday at $12.24.
Wold observed:
“After the close on Corporation (TIVO) reported 3Q18 results that came in 1% and 5% below consensus expectations for revenues and non-GAAP EPS. Nevertheless, we went into the print with the belief that 3Q18 results were somewhat irrelevant with the focus almost entirely on the strategic review and any potential outcome. And while the strategic review will continue potentially through the 4Q18 conference call early next year, we actually view this as a positive sign that discussions around potential transactions remain ongoing and management remains focused on unlocking shareholder value. And with our view that a positive outcome from the strategic review was not priced into shares, we find the 9% aftermarket decline surprising.”
According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.9% and a 48.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TiVo Corporation with a $23 average price target.
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Based on TiVo Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $22.87 million. In comparison, last year the company had a GAAP net loss of $16.96 million.
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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.
