RBC Capital Markets reiterated their sector perform rating on shares of BlackBerry Ltd. (NASDAQ:BBRY) in a research report report published on Monday. RBC Capital Markets currently has a $9.00 target price on the smartphone producer’s stock.
A number of other research firms have also recently commented on BBRY. Zacks Investment Research upgraded BlackBerry from a hold rating to a buy rating and set a $9.00 price objective for the company in a research report on Tuesday, August 23rd. JPMorgan Chase & Co. lifted their price target on BlackBerry from $7.00 to $8.00 and gave the company a neutral rating in a report on Monday, August 29th. TD Securities restated a buy rating and issued a $9.00 price target on shares of BlackBerry in a report on Monday, August 29th. Wells Fargo & Co. restated a positive rating and issued a $7.62 price target on shares of BlackBerry in a report on Tuesday, August 30th. Finally, Credit Suisse Group AG restated a sell rating and issued a $6.00 price target on shares of BlackBerry in a report on Friday, September 23rd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $7.70.
Shares of BlackBerry (NASDAQ:BBRY) opened at 8.33 on Monday. The company has a 50-day moving average of $7.79 and a 200 day moving average of $7.30. The firm’s market cap is $4.36 billion. BlackBerry has a one year low of $6.03 and a one year high of $9.46.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings data on Wednesday, September 28th. The smartphone producer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm earned $352 million during the quarter, compared to analysts’ expectations of $393.75 million. BlackBerry had a negative return on equity of 4.49% and a negative net margin of 49.74%. The firm’s quarterly revenue was down 28.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS. On average, equities research analysts expect that BlackBerry will post ($0.15) EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Primecap Management Co. CA raised its stake 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 increased its position in shares of BlackBerry by 11.9% in the first quarter. Renaissance Technologies LLC now owns 14,766,100 shares of the smartphone producer’s stock worth $119,473,000 after buying an additional 1,575,300 shares during the last quarter. Vanguard Group Inc. increased its position in shares of BlackBerry by 11.5% in the second quarter. Vanguard Group Inc. now owns 9,288,048 shares of the smartphone producer’s stock worth $62,323,000 after buying an additional 958,365 shares during the last quarter. Bank of Montreal Can bought a new position in shares of BlackBerry during the second quarter worth approximately $32,778,000. Finally, Norges Bank bought a new position in shares of BlackBerry during the fourth quarter worth approximately $41,371,000. 57.99% of the stock is currently owned by institutional investors and hedge funds.
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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