Jefferies Group Reiterates “Buy” Rating for TiVo (TIVO)
TiVo (NASDAQ:TIVO)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research report issued to clients and investors on Wednesday, AR Network reports. They currently have a $15.00 target price on the stock, up from their previous target price of $14.00. Jefferies Group’s target price would suggest a potential upside of 36.74% from the stock’s previous close.
The analysts wrote, “TiVo recorded a solid qtr with rev and EBITDA above our ests. Importantly, the company now expects sustained GAAP net income profitability on a go-forward basis, a significant milestone. With ~$1B net cash (vs. a $1.4B mkt cap), we expect share repurchases will continue. And we continue to see lots of opportunity for the core business.”
TiVo (NASDAQ:TIVO) traded up 3.56% during mid-day trading on Wednesday, hitting $11.36. The stock had a trading volume of 2,207,735 shares. TiVo has a 52-week low of $8.73 and a 52-week high of $14.10. The stock’s 50-day moving average is $11.19 and its 200-day moving average is $11.82. The company has a market cap of $1.438 billion and a P/E ratio of 288.68. TiVo also was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 26,325 call options on the stock. This is an increase of approximately 985% compared to the average daily volume of 2,427 call options.
TiVo (NASDAQ:TIVO) last announced its earnings results on Tuesday, August 27th. The company reported $1.96 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.10) by $2.06. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $73.62 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. Analysts expect that TiVo will post $-0.26 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on TIVO. Analysts at Brean Capital reiterated a “buy” rating on shares of TiVo in a research note to investors on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of TiVo in a research note to investors on Friday, August 23rd. They now have a $12.00 price target on the stock. Finally, analysts at Hudson Square Research reiterated a “buy” rating on shares of TiVo in a research note to investors on Friday, August 16th. They now have a $15.00 price target on the stock, down previously from $20.00.
Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. TiVo currently has a consensus rating of “Buy” and an average price target of $14.25.
TiVo Inc (NASDAQ:TIVO) a developer and provider of software and technology that enables the search, navigation, and access of content across sources, including linear television, on-demand television, and broadband video.
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