BlackBerry Ltd. (NASDAQ:BBRY)‘s stock had its “buy” rating reaffirmed by equities research analysts at TD Securities in a research report issued on Friday. They presently have a $9.00 price target on the smartphone producer’s stock. TD Securities’ price target would suggest a potential upside of 13.78% from the company’s previous close.
A number of other equities analysts have also recently commented on BBRY. MKM Partners reaffirmed a “hold” rating on shares of BlackBerry in a research note on Sunday, June 26th. Zacks Investment Research cut shares of BlackBerry from a “buy” rating to a “hold” rating in a research note on Monday, June 6th. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $7.62 price target on shares of BlackBerry in a research note on Monday, June 13th. Deutsche Bank AG reaffirmed a “hold” rating on shares of BlackBerry in a research note on Monday, June 27th. Finally, Imperial Capital reiterated an “in-line” rating and set a $7.00 price objective on shares of BlackBerry in a report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.58.
Shares of BlackBerry (NASDAQ:BBRY) traded up 0.25% during midday trading on Friday, reaching $7.91. 2,522,841 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $7.77 and its 200 day moving average price is $7.31. The company’s market cap is $4.14 billion. BlackBerry has a 12-month low of $5.96 and a 12-month high of $9.46.
Several institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its position in BlackBerry by 0.8% in the second quarter. Primecap Management Co. CA now owns 76,722,307 shares of the smartphone producer’s stock valued at $514,807,000 after buying an additional 624,400 shares in the last quarter. Renaissance Technologies LLC boosted its position in BlackBerry by 11.9% in the first quarter. Renaissance Technologies LLC now owns 14,766,100 shares of the smartphone producer’s stock valued at $119,473,000 after buying an additional 1,575,300 shares in the last quarter. Vanguard Group Inc. boosted its position in BlackBerry by 11.5% in the second quarter. Vanguard Group Inc. now owns 9,288,048 shares of the smartphone producer’s stock valued at $62,323,000 after buying an additional 958,365 shares in the last quarter. Bank of Montreal Can purchased a new position in BlackBerry during the second quarter valued at about $32,778,000. Finally, Norges Bank purchased a new position in BlackBerry during the fourth quarter valued at about $41,371,000. Hedge funds and other institutional investors own 58.07% of the company’s stock.
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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