BlackBerry (BB) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a strong-buy rating in a report issued on Tuesday. Zacks Investment Research currently has $12.00 price target on the stock.

According to Zacks, “BlackBerry reported better-than-expected earnings and revenues in fourth-quarter fiscal 2018 largely driven by solid software sales. Operating as a leading player in the enterprise mobility management, BlackBerry is widely recognized for productivity and security innovations. The company delivers one of the most secure end-to-end mobile enterprise solutions in the market through a broad portfolio of products and services. BlackBerry has entered into a multi-year agreement with Jaguar Land Rover to collaborate and develop technology for the latter’s next-generation vehicles. This follows its game-changing agreement with Baidu for its self-driving car project. The company has bullish outlook for software and service revenues in fiscal 2019. BlackBerry also outperformed the industry in the past year on an average. However, adverse foreign currency translation undermines the growth potential of BlackBerry to some extent.”

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A number of other analysts have also recently commented on BB. MKM Partners lifted their target price on BlackBerry and gave the stock a neutral rating in a research report on Thursday, March 29th. Canaccord Genuity reiterated a hold rating and set a $11.00 target price on shares of BlackBerry in a research report on Thursday, March 29th. Raymond James Financial reiterated a market perform rating and set a $11.00 target price on shares of BlackBerry in a research report on Thursday, March 29th. Vetr cut BlackBerry from a strong-buy rating to a strong sell rating and set a $8.80 target price on the stock. in a research report on Monday, March 12th. Finally, Macquarie lifted their target price on BlackBerry from $14.50 to $15.50 and gave the stock an outperform rating in a research report on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $10.78.

BlackBerry stock opened at $10.19 on Tuesday. BlackBerry has a 1-year low of $7.51 and a 1-year high of $14.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.48 and a current ratio of 5.49. The firm has a market capitalization of $5,619.60, a price-to-earnings ratio of 149.57 and a beta of 1.11.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, March 28th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.06. BlackBerry had a return on equity of 3.70% and a net margin of 43.46%. The company had revenue of $239.00 million for the quarter, compared to analysts’ expectations of $217.88 million. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. analysts anticipate that BlackBerry will post -0.06 earnings per share for the current fiscal year.

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About BlackBerry

BlackBerry Limited operates as security software and services company in securing, connecting, and mobilizing enterprises worldwide. The company operates in three segments: Software & Services, Mobility Solutions, and Service Access Fees (SAF). The Software & Services segment offers enterprise software and services, including mobile-first security, productivity, collaboration, and end-point management solutions for the Enterprise of Things through the BlackBerry Secure platform; BlackBerry technology solutions, such as BlackBerry QNX, Certicom, Paratek, BlackBerry Radar, and intellectual property and licensing; AtHoc, which provides secure, networked crisis communications solutions; SecuSmart that offers secure voice and text messaging solutions with encryption and anti-eavesdropping facilities; licensing and services related to BlackBerry Messenger; and cybersecurity consulting services and tools.

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