BlackBerry Ltd. (NASDAQ:BBRY) had its target price boosted by RBC Capital Markets from $7.00 to $7.50 in a research note issued to investors on Thursday. The firm currently has a neutral rating on the smartphone producer’s stock.
A number of other analysts also recently commented on BBRY. MKM Partners reissued a hold rating on shares of BlackBerry in a research note on Sunday, June 26th. Zacks Investment Research downgraded BlackBerry from a buy rating to a hold rating in a research note on Monday, June 6th. Wells Fargo & Co. reissued a market perform rating and issued a $7.62 price objective on shares of BlackBerry in a research note on Monday, June 13th. Deutsche Bank AG reissued a hold rating on shares of BlackBerry in a research note on Monday, June 27th. Finally, Imperial Capital reissued an in-line rating and issued a $7.00 price objective on shares of BlackBerry in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $7.92.
BlackBerry (NASDAQ:BBRY) opened at 7.85 on Thursday. BlackBerry has a 52-week low of $6.23 and a 52-week high of $9.46. The stock’s market capitalization is $4.11 billion. The company’s 50-day moving average price is $7.79 and its 200 day moving average price is $7.29.
BlackBerry (NASDAQ:BBRY) last announced its earnings results 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. The firm had revenue of $352 million for the quarter. BlackBerry had a negative return on equity of 3.36% and a negative net margin of 78.41%. The firm’s revenue was down 28.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS. On average, equities research analysts anticipate that BlackBerry will post ($0.03) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of BBRY. Water Island Capital LLC increased its position in shares of 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 boosted its stake 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 during the last quarter. Exane Derivatives purchased a new stake in BlackBerry during the first quarter worth about $221,000. World Asset Management Inc boosted its stake 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 during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake 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 during the last quarter. Institutional investors and hedge funds 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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