BlackBerry Ltd. (BBRY) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of BlackBerry Ltd. (NASDAQ:BBRY) from a buy rating to a strong-buy rating in a report published on Tuesday morning. The firm currently has $8.59 price objective on the smartphone producer’s stock.
Several other research firms also recently weighed in on BBRY. Goldman Sachs Group Inc. reissued a sell rating and issued a $6.00 price objective on shares of BlackBerry in a report on Thursday, September 29th. Morgan Stanley reissued an equal weight rating and issued a $7.00 price objective on shares of BlackBerry in a report on Thursday, September 29th. Royal Bank Of Canada increased their price objective on BlackBerry from $7.00 to $7.50 and gave the company a sector perform rating in a report on Thursday, September 29th. Macquarie raised BlackBerry from an underperform rating to a neutral rating and increased their price objective for the company from $7.00 to $8.50 in a report on Thursday, September 29th. Finally, Credit Suisse Group AG reissued an underperform rating and issued a $6.00 price objective on shares of BlackBerry in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. BlackBerry presently has a consensus rating of Hold and an average price target of $7.93.
BlackBerry (NASDAQ:BBRY) opened at 7.67 on Tuesday. BlackBerry has a 52-week low of $6.23 and a 52-week high of $9.46. The company’s market capitalization is $4.02 billion. The firm has a 50 day moving average of $7.73 and a 200-day moving average of $7.29.
BlackBerry (NASDAQ:BBRY) last announced its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. The firm earned $352 million during the quarter. BlackBerry had a negative return on equity of 3.36% and a negative net margin of 78.41%. The business’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. Equities analysts expect that BlackBerry will post ($0.01) EPS for the current year.
A number of large investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in BlackBerry during the second quarter valued at about $32,778,000. Renaissance Technologies LLC raised 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 valued at $119,473,000 after buying an additional 1,575,300 shares during the last quarter. Primecap Management Co. CA raised 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 valued at $615,632,000 after buying an additional 1,371,800 shares during the last quarter. Vanguard Group Inc. raised 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 valued at $62,323,000 after buying an additional 958,365 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised 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 valued at $13,599,000 after buying an additional 467,058 shares during the last quarter. Institutional investors own 57.93% 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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