BlackBerry Ltd. (NASDAQ:BBRY) has received a consensus rating of “Hold” from the twenty analysts that are presently covering the stock. Two analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.01.

A number of brokerages have issued reports on BBRY. MKM Partners reaffirmed a “hold” rating on shares of BlackBerry in a research note on Sunday, June 26th. Deutsche Bank AG reaffirmed a “hold” rating on shares of BlackBerry in a research note on Monday, June 27th. Imperial Capital reaffirmed an “in-line” rating and issued a $7.00 target price on shares of BlackBerry in a research note on Tuesday, June 28th. Royal Bank Of Canada raised their target price on BlackBerry from $7.00 to $7.50 and gave the stock a “sector perform” rating in a research note on Thursday, September 29th. Finally, RBC Capital Markets raised their target price on BlackBerry from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, September 29th.

Shares of BlackBerry (NASDAQ:BBRY) opened at 7.49 on Wednesday. BlackBerry has a 52 week low of $6.23 and a 52 week high of $9.46. The stock’s market capitalization is $3.92 billion. The stock’s 50 day moving average is $7.69 and its 200-day moving average is $7.30.

BlackBerry (NASDAQ:BBRY) last issued its earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $352 million during the quarter. During the same period last year, the business earned ($0.13) earnings per share. The firm’s revenue was down 28.2% compared to the same quarter last year. On average, analysts anticipate that BlackBerry will post ($0.01) earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Water Island Capital LLC raised its position in BlackBerry by 106.3% in the second quarter. Water Island Capital LLC now owns 16,500 shares of the smartphone producer’s stock worth $111,000 after buying an additional 8,500 shares during the last quarter. IFP Advisors Inc raised its position in BlackBerry by 83.9% in the second quarter. IFP Advisors Inc now owns 20,490 shares of the smartphone producer’s stock worth $137,000 after buying an additional 9,350 shares during the last quarter. World Asset Management Inc raised its position in BlackBerry by 7.8% in the second quarter. World Asset Management Inc now owns 32,372 shares of the smartphone producer’s stock worth $217,000 after buying an additional 2,330 shares during the last quarter. Ameriprise Financial Inc. raised its position in BlackBerry by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 33,078 shares of the smartphone producer’s stock worth $222,000 after buying an additional 1,147 shares during the last quarter. Finally, Exane Derivatives raised its position in BlackBerry by 29.2% in the second quarter. Exane Derivatives now owns 35,250 shares of the smartphone producer’s stock worth $236,000 after buying an additional 7,957 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

BlackBerry Company Profile

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.

5 Day Chart for NASDAQ:BBRY

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