BlackBerry Ltd. (NASDAQ:BBRY)‘s stock had its “neutral” rating reaffirmed by equities researchers at MKM Partners in a research report issued to clients and investors on Sunday. They currently have a $8.00 target price on the smartphone producer’s stock, up from their prior target price of $7.50. MKM Partners’ price target would indicate a potential upside of 0.25% from the stock’s current price.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of BlackBerry from a “buy” rating to a “hold” rating in a report on Monday, June 6th. Wells Fargo & Co. reissued a “market perform” rating and issued a $7.62 target price on shares of BlackBerry in a report on Monday, June 13th. Deutsche Bank AG reissued a “hold” rating on shares of BlackBerry in a report on Monday, June 27th. Royal Bank Of Canada raised their target price on shares of BlackBerry from $7.00 to $7.50 and gave the company a “sector perform” rating in a report on Thursday. Finally, Canaccord Genuity reissued a “hold” rating and issued a $8.00 target price on shares of BlackBerry in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. BlackBerry presently has a consensus rating of “Hold” and an average target price of $7.92.
BlackBerry (NASDAQ:BBRY) opened at 7.98 on Friday. The firm has a 50-day moving average of $7.80 and a 200 day moving average of $7.30. The company’s market capitalization is $4.17 billion. BlackBerry has a one year low of $6.23 and a one year high of $9.46.
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, beating the consensus estimate of ($0.05) by $0.02. The firm 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 company’s quarterly revenue was down 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS. Equities research analysts predict that BlackBerry will post ($0.03) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of BBRY. Bank of Montreal Can purchased a new stake in shares of BlackBerry during the second quarter worth approximately $32,778,000. Societe Generale bought a new stake in BlackBerry during the second quarter valued at approximately $2,013,000. Virginia Retirement System bought a new stake in BlackBerry during the first quarter valued at approximately $3,298,000. GMT Capital Corp bought a new stake in BlackBerry during the second quarter valued at approximately $393,000. Finally, 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 valued at $579,000 after buying an additional 50,025 shares in the last quarter. Hedge funds and other institutional investors own 57.99% of the company’s stock.
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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