BlackBerry Ltd (BBRY) Receives $8.01 Average Target Price from Brokerages
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the firm. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.01.
A number of research analysts have recently weighed in on BBRY shares. Credit Suisse Group AG restated an “underperform” rating and set a $6.00 price objective on shares of BlackBerry in a research report on Thursday, September 29th. Royal Bank Of Canada raised their price objective on BlackBerry from $7.00 to $7.50 and gave the company a “sector perform” rating in a research report on Thursday, September 29th. Wells Fargo & Co. restated a “positive” rating and set a $7.62 price objective on shares of BlackBerry in a research report on Tuesday, August 30th. Raymond James Financial Inc. upgraded BlackBerry from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $8.00 to $10.50 in a research report on Friday, August 12th. Finally, Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Monday, October 3rd.
BlackBerry (NASDAQ:BBRY) opened at 7.57 on Wednesday. The company’s market cap is $3.97 billion. BlackBerry has a 52-week low of $6.23 and a 52-week high of $9.46. The firm’s 50-day moving average price is $7.40 and its 200-day moving average price is $7.30.
Several large investors have recently made changes to their positions in the stock. Water Island Capital LLC raised 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 worth $111,000 after buying an additional 8,500 shares during the period. Palo Capital Inc. bought a new stake in shares of BlackBerry during the third quarter worth $136,000. IFP Advisors Inc raised 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 worth $137,000 after buying an additional 9,350 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of BlackBerry during the third quarter worth $172,000. Finally, Two Sigma Securities LLC bought a new stake in shares of BlackBerry during the third quarter worth $192,000. 58.23% of the stock is currently owned by hedge funds and other institutional investors.
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.
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