In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on TiVo Corporation (NASDAQ: TIVO), with a price target of $19. The company’s shares closed yesterday at $12.15, close to its 52-week low of $11.30.
Wold said:
“After the close on Corporation (TIVO) reported 2Q18 results that, as we feared, came in below consensus. And while we came away from the results and our management call back increasingly positive around the potential to wring out additional cost savings (ex-litigation) and drive ARPUs higher with the upgrade of legacy Rovi households to the next-gen TiVo offering, the focus coming out of the call will clearly be on the strategic review update. As we have felt it may be difficult for TiVo to structure an acquisition of the entire company given a number of factors, including Comcast upside optionality and the $1.0B in NOLs, management confirmed the Board is considering selling one or both of the product licensing and IP licensing segments separately.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 8.9% and a 58.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on TiVo Corporation is a Strong Buy with an average price target of $21.75.
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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 $4.77 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TIVO in relation to earlier this year.
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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.
