TD Securities reiterated their buy rating on shares of BlackBerry Ltd. (NASDAQ:BBRY) in a report released on Friday. The firm currently has a $10.00 price target on the smartphone producer’s stock, up from their previous price target of $9.00.
Several other equities analysts have also weighed in on the stock. Wells Fargo & Co. restated a positive rating and set a $7.62 target price on shares of BlackBerry in a report on Tuesday, August 30th. Credit Suisse Group AG restated a sell rating and set a $6.00 target price on shares of BlackBerry in a report on Friday, September 23rd. Zacks Investment Research upgraded shares of BlackBerry from a hold rating to a buy rating and set a $7.50 target price on the stock in a report on Tuesday, July 19th. JPMorgan Chase & Co. lifted their target price on shares of BlackBerry from $7.00 to $8.00 and gave the company a neutral rating in a report on Monday, August 29th. Finally, Raymond James Financial Inc. upgraded shares of BlackBerry from a market perform rating to an outperform rating and lifted their target price for the company from $8.00 to $10.50 in a report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $7.92.
BlackBerry (NASDAQ:BBRY) opened at 7.96 on Friday. The firm’s market cap is $4.17 billion. The firm has a 50-day moving average of $7.80 and a 200 day moving average of $7.30. BlackBerry has a 1-year low of $6.23 and a 1-year high of $9.46.
BlackBerry (NASDAQ:BBRY) last posted its earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The business had revenue of $352 million for the quarter. BlackBerry had a negative net margin of 78.41% and a negative return on equity of 3.36%. The business’s revenue was down 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, analysts predict that BlackBerry will post ($0.03) EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in BBRY. Sumitomo Mitsui Trust Holdings Inc. raised its stake in BlackBerry by 2.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 804,797 shares of the smartphone producer’s stock worth $5,376,000 after buying an additional 16,940 shares in the last quarter. Capital Fund Management S.A. raised its stake in BlackBerry by 59.2% in the second quarter. Capital Fund Management S.A. now owns 241,875 shares of the smartphone producer’s stock worth $1,623,000 after buying an additional 89,980 shares in the last quarter. Bank of Montreal Can purchased a new stake in BlackBerry during the second quarter worth about $32,778,000. Greylin Investment Mangement Inc. raised its stake in BlackBerry by 137.9% in the second quarter. Greylin Investment Mangement Inc. now owns 86,300 shares of the smartphone producer’s stock worth $579,000 after buying an additional 50,025 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in BlackBerry by 3.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 67,596 shares of the smartphone producer’s stock worth $545,000 after buying an additional 1,959 shares in the last quarter. 57.99% of the stock is owned by institutional investors and hedge funds.
BlackBerry Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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