BlackBerry Ltd. (NASDAQ:BBRY) had its target price lifted by Royal Bank Of Canada from $7.00 to $7.50 in a research note published on Thursday morning. Royal Bank Of Canada currently has a sector perform rating on the smartphone producer’s stock.
Several other equities analysts have also weighed in on the stock. Wells Fargo & Co. reiterated a positive rating and set a $7.62 price objective on shares of BlackBerry in a report on Tuesday, August 30th. Credit Suisse Group AG reissued a sell rating and set a $6.00 target price on shares of BlackBerry in a research report on Friday, September 23rd. Zacks Investment Research raised shares of BlackBerry from a hold rating to a buy rating and set a $7.50 target price for the company in a research report on Tuesday, July 19th. JPMorgan Chase & Co. boosted their target price on shares of BlackBerry from $7.00 to $8.00 and gave the stock a neutral rating in a research report on Monday, August 29th. Finally, TD Securities reissued a buy rating and set a $9.00 target price on shares of BlackBerry in a research report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $7.92.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.85 on Thursday. The firm’s 50-day moving average is $7.79 and its 200 day moving average is $7.29. BlackBerry has a 12 month low of $6.23 and a 12 month high of $9.46. The firm’s market capitalization is $4.11 billion.
BlackBerry (NASDAQ:BBRY) last announced its quarterly earnings data on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. BlackBerry had a negative net margin of 78.41% and a negative return on equity of 3.36%. The firm had revenue of $352 million for the quarter. During the same quarter in the prior year, the company posted ($0.13) EPS. BlackBerry’s revenue for the quarter was down 28.2% on a year-over-year basis. On average, equities research analysts anticipate that BlackBerry will post ($0.03) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. increased its position in BlackBerry by 59.2% in the second quarter. Capital Fund Management S.A. now owns 241,875 shares of the smartphone producer’s stock worth $1,623,000 after buying an additional 89,980 shares in the last quarter. Bank of Montreal Can bought a new position in BlackBerry during the second quarter worth $32,778,000. Greylin Investment Mangement Inc. increased its position in BlackBerry by 137.9% in the second quarter. Greylin Investment Mangement Inc. now owns 86,300 shares of the smartphone producer’s stock worth $579,000 after buying an additional 50,025 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in BlackBerry by 3.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 67,596 shares of the smartphone producer’s stock worth $545,000 after buying an additional 1,959 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its position in BlackBerry by 46.0% in the first quarter. A.R.T. Advisors LLC now owns 441,505 shares of the smartphone producer’s stock worth $3,571,000 after buying an additional 139,200 shares in the last quarter. 57.99% of the stock is owned by hedge funds and other 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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