Goldman Sachs Group Inc. reaffirmed their buy rating on shares of TiVo (NASDAQ:TIVO) in a research note issued to investors on Wednesday, American Banking and Market News reports. The firm currently has a $16.00 price target on the stock, up from their previous price target of $15.00.
“TIVO reported F3Q14 revenue of $117mn vs. the Street at $103mn. Hardware revenue of $35.6mn exceeded the Street at $22.1mn given better than expected TIVO-owned and MSO subscriber additions. In the case of TIVO-owned gross subscriptions, gross adds were +10% yoy to 33k vs. (29)% yoy to 20k last quarter. As well, MSO net subscriber additions were 295k (+23% yoy) in F3Q14 vs. 238k net ads (-6% yoy) in F2Q14. Given topline upside, net income also came in above at $12.5mn vs. consensus of $7.8mn. As such, GAAP EPS came in at $0.10 vs. the Street at $0.06.,” Goldman Sachs Group Inc.’s analyst wrote.
TiVo (NASDAQ:TIVO) opened at 12.66 on Wednesday. TiVo has a 52-week low of $10.47 and a 52-week high of $14.25. The stock’s 50-day moving average is $13.18 and its 200-day moving average is $12.10. The company has a market cap of $1.544 billion and a P/E ratio of 5.64.
TiVo (NASDAQ:TIVO) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.04. The company had revenue of $81.70 million for the quarter, compared to the consensus estimate of $81.35 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts predict that TiVo will post $2.05 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray reiterated a positive rating on shares of TiVo in a research note to investors on Wednesday. Separately, analysts at Barrington Research reiterated an outperform rating on shares of TiVo in a research note to investors on Wednesday. They now have a $16.00 price target on the stock. Finally, analysts at Brean Capital reiterated a buy rating on shares of TiVo in a research note to investors on Wednesday. They now have a $14.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $22.05.
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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