TiVo (TIVO) Tops Q4 EPS by 6c

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TiVo (TIVO) Miss and Weak Guidance Causes PT Cut at Piper Jaffray

March 2, 2016 7:32 AM EST

Piper Jaffray analyst, Mike Olson cut his price target to $13 from $16 after TiVo TiVo (NASDAQ: TIVO) reported an in-line Q4 but service & tech revenue and sub adds were below consensus.

The company added 318K net MSO subs during the qtr, above Piper's 290K estimate, but below consensus at 345K. FY2017 rev guidance is below Street expectations, while adj. EBITDA guidance is above due to changes being implemented by interim CEO (current CFO) Naveen Chopra who has put the company on a trajectory to improving... More