Goldman Sachs Group Inc. reiterated their sell rating on shares of BlackBerry Ltd. (NASDAQ:BBRY) in a research report report published on Thursday, StockTargetPrices.com reports. The brokerage currently has a $6.00 price target on the smartphone producer’s stock.
Other analysts also recently issued reports about the company. Imperial Capital restated an in-line rating and set a $7.00 price objective on shares of BlackBerry in a report on Tuesday, June 28th. MKM Partners restated a hold rating on shares of BlackBerry in a report on Sunday, June 26th. RBC Capital Markets restated a sector perform rating and set a $9.00 price objective on shares of BlackBerry in a report on Wednesday, July 20th. Credit Suisse Group AG restated an underperform rating and set a $6.00 price objective on shares of BlackBerry in a report on Thursday. Finally, Wells Fargo & Co. reiterated a market perform rating and issued a $7.62 price target on shares of BlackBerry in a report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $7.84.
Shares of BlackBerry (NASDAQ:BBRY) traded up 0.693% on Thursday, reaching $7.995. The company had a trading volume of 1,817,197 shares. The company has a 50 day moving average of $7.80 and a 200-day moving average of $7.31. The company’s market capitalization is $4.18 billion. BlackBerry has a 52 week low of $6.04 and a 52 week high of $9.46.
BlackBerry (NASDAQ:BBRY) last released 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 business earned $352 million during the quarter. BlackBerry had a negative return on equity of 3.13% and a negative net margin of 78.41%. The company’s quarterly revenue was down 28.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.13) earnings per share. Analysts predict that BlackBerry will post $70.89 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of BBRY. Primecap Management Co. CA raised 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 worth $514,807,000 after buying an additional 624,400 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $119,473,000 after buying an additional 1,575,300 shares in the last quarter. Vanguard Group Inc. raised 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 worth $62,323,000 after buying an additional 958,365 shares in the last quarter. Bank of Montreal Can bought a new position in BlackBerry during the second quarter worth approximately $32,778,000. Finally, Norges Bank bought a new position in BlackBerry during the fourth quarter worth approximately $41,371,000. Institutional investors and hedge funds own 57.99% 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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