Canaccord Genuity reaffirmed their hold rating on shares of BlackBerry Ltd. (NASDAQ:BBRY) in a research report sent to investors on Friday morning. The brokerage currently has a $8.00 price objective on the smartphone producer’s stock.
Several other equities research analysts have also recently issued reports on BBRY. Zacks Investment Research cut shares of BlackBerry from a buy rating to a hold rating in a research report on Monday, June 6th. Wells Fargo & Co. reiterated a market perform rating and set a $7.62 price target on shares of BlackBerry in a research note on Monday, June 13th. Imperial Capital cut their price target on shares of BlackBerry from $7.50 to $7.00 and set an in-line rating on the stock in a research note on Thursday, June 16th. Credit Suisse Group AG reiterated a sell rating on shares of BlackBerry in a research note on Friday, June 17th. Finally, Royal Bank Of Canada reiterated a sector perform rating and set a $7.00 price target (down from $8.00) on shares of BlackBerry in a research note on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $7.92.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.66 on Friday. BlackBerry has a 1-year low of $6.23 and a 1-year high of $9.46. The stock’s 50 day moving average is $7.78 and its 200 day moving average is $7.29. The stock’s market capitalization is $4.01 billion.
BlackBerry (NASDAQ:BBRY) last released its quarterly earnings data on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The business earned $352 million during the quarter. BlackBerry had a negative net margin of 78.41% and a negative return on equity of 3.36%. BlackBerry’s revenue for the quarter was down 28.2% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. On average, equities analysts forecast that BlackBerry will post ($0.03) EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Water Island Capital LLC raised its position in 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 in the last quarter. IFP Advisors Inc raised its position in 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 in the last quarter. World Asset Management Inc raised its position in 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 in the last quarter. Ameriprise Financial Inc. raised its position in 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 in the last quarter. Finally, Exane Derivatives raised its position in BlackBerry by 29.2% in the second quarter. Exane Derivatives now owns 35,250 shares of the smartphone producer’s stock worth $236,000 after buying an additional 7,957 shares in the last quarter. 57.99% of the stock is currently owned by institutional investors.
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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