Vetr upgraded shares of BlackBerry Ltd. (NASDAQ:BBRY) from a buy rating to a strong-buy rating in a research note released on Tuesday morning. The firm currently has $8.59 price objective on the smartphone producer’s stock.
A number of other analysts also recently commented on BBRY. Credit Suisse Group AG reiterated an underperform rating and set a $6.00 target price on shares of BlackBerry in a research report on Thursday, September 29th. Wells Fargo & Co. reiterated a positive rating and set a $7.62 target price on shares of BlackBerry in a research report on Tuesday, August 30th. Royal Bank Of Canada boosted their target price on BlackBerry from $7.00 to $7.50 and gave the stock a sector perform rating in a research report on Thursday, September 29th. Imperial Capital reiterated an in-line rating and set a $7.00 target price on shares of BlackBerry in a research report on Tuesday, June 28th. Finally, Raymond James Financial Inc. upgraded BlackBerry from a market perform rating to an outperform rating and boosted their target price for the stock from $8.00 to $10.50 in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $7.93.
BlackBerry (NASDAQ:BBRY) opened at 7.49 on Tuesday. The stock’s market capitalization is $3.92 billion. BlackBerry has a 12-month low of $6.23 and a 12-month high of $9.46. The stock’s 50 day moving average price is $7.69 and its 200-day moving average price is $7.30.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. BlackBerry had a negative return on equity of 3.36% and a negative net margin of 78.41%. The firm had revenue of $352 million for the quarter. During the same quarter last year, the firm earned ($0.13) earnings per share. The firm’s quarterly revenue was down 28.2% compared to the same quarter last year. Analysts expect that BlackBerry will post ($0.01) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of BlackBerry during the second quarter worth approximately $32,778,000. 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 in the last quarter. Primecap Management Co. CA increased its position in shares of BlackBerry by 1.8% in the first quarter. Primecap Management Co. CA now owns 76,097,907 shares of the smartphone producer’s stock worth $615,632,000 after buying an additional 1,371,800 shares in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of BlackBerry by 29.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,026,746 shares of the smartphone producer’s stock worth $13,599,000 after buying an additional 467,058 shares in the last quarter. 57.93% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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