Shares of BlackBerry Ltd. (NASDAQ:BBRY) have earned a consensus recommendation of “Hold” from the twenty brokerages that are covering the company. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.01.
BBRY has been the topic of several analyst reports. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a $6.00 price target on shares of BlackBerry in a report on Thursday, September 29th. Wells Fargo & Co. reissued a “positive” rating and set a $7.62 price objective on shares of BlackBerry in a report on Tuesday, August 30th. Royal Bank Of Canada boosted their price objective on shares of BlackBerry from $7.00 to $7.50 and gave the company a “sector perform” rating in a report on Thursday, September 29th. Imperial Capital reissued an “in-line” rating and set a $7.00 price objective on shares of BlackBerry in a report on Tuesday, June 28th. Finally, Raymond James Financial Inc. raised shares of BlackBerry from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $8.00 to $10.50 in a report on Friday, August 12th.
Hedge funds have recently bought and sold shares of the stock. Water Island Capital LLC boosted its stake in BlackBerry by 106.3% in the second quarter. Water Island Capital LLC now owns 16,500 shares of the smartphone producer’s stock valued at $111,000 after buying an additional 8,500 shares during the period. 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 valued at $137,000 after buying an additional 9,350 shares during the period. 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 valued at $217,000 after buying an additional 2,330 shares during the period. 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 valued at $222,000 after buying an additional 1,147 shares during the period. Finally, Exane Derivatives boosted its stake in BlackBerry by 29.2% in the second quarter. Exane Derivatives now owns 35,250 shares of the smartphone producer’s stock valued at $236,000 after buying an additional 7,957 shares during the period. 57.93% of the stock is owned by institutional investors and hedge funds.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.49 on Wednesday. The firm’s 50-day moving average price is $7.69 and its 200-day moving average price is $7.30. BlackBerry has a 12-month low of $6.23 and a 12-month high of $9.46. The company’s market capitalization is $3.92 billion.
BlackBerry (NASDAQ:BBRY) last released its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $352 million for the quarter. During the same period in the prior year, the firm posted ($0.13) earnings per share. BlackBerry’s revenue for the quarter was down 28.2% compared to the same quarter last year. On average, analysts expect that BlackBerry will post ($0.01) EPS for the current fiscal year.
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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