BlackBerry Ltd. (NASDAQ:BBRY) had its price target lifted by Royal Bank Of Canada from $7.00 to $7.50 in a research report sent to investors on Thursday morning. They currently have a sector perform rating on the smartphone producer’s stock.
A number of other research firms have also commented on BBRY. Goldman Sachs Group Inc. restated a sell rating and issued a $6.00 price objective on shares of BlackBerry in a research report on Thursday. Morgan Stanley restated an equal weight rating and issued a $7.00 price objective on shares of BlackBerry in a research report on Thursday. Credit Suisse Group AG restated an underperform rating and issued a $6.00 price objective on shares of BlackBerry in a research report on Thursday. Zacks Investment Research raised shares of BlackBerry from a hold rating to a buy rating and set a $9.00 target price on the stock in a research note on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of BlackBerry from $7.00 to $8.00 and gave the company a neutral rating in a research note on Monday, August 29th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $7.84.
Shares of BlackBerry (NASDAQ:BBRY) traded up 0.76% during trading on Thursday, hitting $8.00. 1,817,297 shares of the stock traded hands. BlackBerry has a 1-year low of $6.04 and a 1-year high of $9.46. The company’s market cap is $4.18 billion. The stock has a 50-day moving average of $7.80 and a 200 day moving average of $7.30.
BlackBerry (NASDAQ:BBRY) last released its quarterly earnings data on Wednesday, September 28th. The smartphone producer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. BlackBerry had a negative net margin of 78.41% and a negative return on equity of 3.13%. The company earned $352 million during the quarter. During the same quarter last year, the business posted ($0.13) earnings per share. BlackBerry’s revenue was down 28.2% compared to the same quarter last year. On average, equities research analysts predict that BlackBerry will post $70.89 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of BBRY. Water Island Capital LLC raised its position in shares of BlackBerry by 106.3% in the second quarter. Water Island Capital LLC now owns 16,500 shares of the smartphone producer’s stock worth $111,000 after buying an additional 8,500 shares during the period. IFP Advisors Inc raised its position in shares of BlackBerry by 83.9% in the second quarter. IFP Advisors Inc now owns 20,490 shares of the smartphone producer’s stock worth $137,000 after buying an additional 9,350 shares during the period. Exane Derivatives acquired a new position in shares of BlackBerry during the first quarter worth $221,000. World Asset Management Inc raised its position in shares of BlackBerry by 7.8% in the second quarter. World Asset Management Inc now owns 32,372 shares of the smartphone producer’s stock worth $217,000 after buying an additional 2,330 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of BlackBerry by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 33,078 shares of the smartphone producer’s stock worth $222,000 after buying an additional 1,147 shares during the period. 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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