TiVo (TIVO) Reports Subscriber Momentum; FBR Capital Reiterates Market Perform

FBR Capital reiterated a Market Perform rating and $10.00 price target on TiVo (NASDAQ: TIVO) following the company's 3Q earnings report. TiVo's service and technology revenues of $102.8 million were at the top end of the guidance range of $100 million to $103 million. Third-party subs rose more than expected, climbing 418,000 to 5.5 million.

Analyst Barton Crockett commented, "TiVo's F3Q16 earnings report post-close featured a positive inflection in MSO standalone subscriber growth that offers a very encouraging backdrop for a report that otherwise financially was in line. The sub growth is encouraging evidence that TiVo's MSO relationships and offering are gaining traction, and that the company is also gaining a modicum of momentum at retail heading into Christmas."

For an analyst ratings summary and ratings history on TiVo click here. For more ratings news on TiVo click here.

Shares of TiVo closed at $9.31 yesterday.

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