Piper Jaffray Releases a Buy Rating on TiVo Corporation

By Carrie Williams

Piper Jaffray analyst Michael Olson assigned a Buy rating to TiVo Corporation (NASDAQ: TIVO) today and set a price target of $25. The company’s shares opened today at $16.75.

According to TipRanks.com, Olson is a top 100 analyst with an average return of 18.3% and a 64.4% success rate. Olson covers the Services sector, focusing on stocks such as BJ’s Restaurants, TripAdvisor Inc, and Pricelinecom.

Currently, the analyst consensus on TiVo Corporation is Strong Buy and the average price target is $26, representing a 55.2% upside.

In a report issued on October 30, B.Riley FBR also reiterated a Buy rating on the stock with a $31 price target.

Based on TiVo Corporation’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $198 million and GAAP net loss of $16.96 million. In comparison, last year the company earned revenue of $153 million and had a net profit of $49.92 million.

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TiVo Corp. provides entertainment technology, software, and services. It operates through the Intellectual Property Licensing and Product segments.