BlackBerry Ltd. (BBRY) Price Target Raised to $7.50 at Royal Bank Of Canada
BlackBerry Ltd. (NASDAQ:BBRY) had its price objective increased by Royal Bank Of Canada from $7.00 to $7.50 in a research report report published on Thursday. Royal Bank Of Canada currently has a sector perform rating on the smartphone producer’s stock.
Several other research firms have also weighed in on BBRY. Wells Fargo & Co. reiterated a positive rating and issued a $7.62 target price on shares of BlackBerry in a report on Tuesday, August 30th. TD Securities reiterated a buy rating and issued a $9.00 target price on shares of BlackBerry in a report on Friday, September 23rd. Credit Suisse Group AG reiterated a sell rating and issued a $6.00 target price on shares of BlackBerry in a report on Friday, September 23rd. Zacks Investment Research lowered shares of BlackBerry from a buy rating to a hold rating in a report on Wednesday, July 20th. Finally, RBC Capital Markets reiterated a sector perform rating and issued a $9.00 target price on shares of BlackBerry in a report on Monday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $7.84.
Shares of BlackBerry (NASDAQ:BBRY) traded up 0.76% during midday trading on Thursday, reaching $8.00. 1,817,297 shares of the company were exchanged. The company has a 50 day moving average price of $7.80 and a 200-day moving average price of $7.30. BlackBerry has a 12-month low of $6.04 and a 12-month high of $9.46. The stock’s market capitalization is $4.18 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 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 3.13%. The business had revenue of $352 million for the quarter. During the same quarter in the prior year, the company earned ($0.13) earnings per share. The company’s quarterly revenue was down 28.2% on a year-over-year basis. On average, analysts forecast that BlackBerry will post $70.89 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Water Island Capital LLC boosted its stake 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 valued at $111,000 after buying an additional 8,500 shares during the period. IFP Advisors Inc boosted its stake in shares of 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 shares of 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. Exane Derivatives acquired a new stake in shares of BlackBerry during the first quarter valued at $221,000. Finally, Ameriprise Financial Inc. boosted its position in shares of 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 last quarter. Institutional investors and hedge funds own 57.99% of the company’s stock.
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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