You will be redirected back to your article in seconds

Wall Street bulls lead TiVo charge

Positive analysis helped boost shares 11%

NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well.

Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a bullish analyst forecast, which pushed the stock price up $1.16 to $12.23.

The six-year-old company sold 2.9 million shares priced at $9.50 apiece Thursday, with plans to use the proceeds to bulk up its cash reserves for working capital purposes.

TiVo also got a boost from tech investment analysts Rodman & Renshaw, which on Friday rated the company an “outperform” and nearly doubled their share price targets for the company from $8 to $15. They expect TiVo will generate $96.3 million in sales this year and break even on a cash basis in 2004 with EBITDA of $18 million.

TiVo bulls are counting on strong demand from DirecTV, which sells satellite set-top boxes that incorporate TiVo licensed functionality. TiVo is forecasting 450,000 to 600,000 new subscriptions for its fiscal year ending January 31.

The bane of many broadcasters’ existence, many have been uncertain about the company’s future. But new licensing deals with the likes of Pioneer and the introduction of a new combo TiVo/DVD player from Toshiba may help speed subscriptions to the time- shifting technology.

Last week, TiVo sealed a major ad deal with Chrysler to created branded long form content for the service to promote its new Crossfire car.

More Scene

  • Constance Wu, Jimmy O. Yang. Constance

    Emmys 2018: What You Didn't See on TV

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

  • Ever Carradine, Madeline Brewer and Chrissy

    Emmys 2018: Inside All the Post-Show Parties

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

  • House With a Clock in Its

    Cate Blanchett Would Love a Job on Television

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

  • Director Joe Russo, right, chef Jessica

    Avengers, 'Community' Stars Assemble to Welcome Joe Russo's New Restaurant Simone

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

  • emmys John Leguizamo72nd Annual Tony Awards,

    John Leguizamo on Hollywood's Future: No More 'Bad Boys Club Behavior'

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

  • Trevor Noah, Ryan Michelle Bathe and

    Tiffany Haddish, Constance Wu, Sterling K. Brown Party at Variety and Women in Film Bash

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

  • Keira Knightley and Wash Westmoreland'Colette' film

    'Colette' Director Says History's Queer People Have 'Relevance': 'This Is Their Story'

    NEW YORK — Basking in the glow of its HBO Sunday night “Sex and the City” cameo as Miranda’s consumer electronics boy toy, TiVo is evidently enjoying new-found notoriety on Wall Street as well. Shares of the digital video recording provider jumped nearly 11% Friday, after a successful $27.3 million secondary share offering and a […]

More From Our Brands

Access exclusive content