BlackBerry Ltd. (BBRY) Given Hold Rating at Canaccord Genuity
Canaccord Genuity reiterated their hold rating on shares of BlackBerry Ltd. (NASDAQ:BBRY) in a report issued on Friday morning. The firm currently has a $8.00 target price on the smartphone producer’s stock.
A number of other research analysts also recently weighed in on BBRY. MKM Partners restated a hold rating on shares of BlackBerry in a research note on Sunday, June 26th. Zacks Investment Research downgraded BlackBerry from a buy rating to a hold rating in a research note on Monday, June 6th. Wells Fargo & Co. reiterated a market perform rating and set a $7.62 target price on shares of BlackBerry in a research note on Monday, June 13th. Deutsche Bank AG reiterated a hold rating on shares of BlackBerry in a research note on Monday, June 27th. Finally, Imperial Capital reiterated an in-line rating and set a $7.00 target price on shares of BlackBerry in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $7.92.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.66 on Friday. The firm has a 50-day moving average price of $7.76 and a 200-day moving average price of $7.29. The company’s market capitalization is $4.01 billion. BlackBerry has a 12 month low of $6.23 and a 12 month high of $9.46.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share 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 firm’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) earnings per share. On average, equities research analysts predict that BlackBerry will post ($0.03) EPS for the current year.
Several large investors have recently added to or reduced their stakes in BBRY. Water Island Capital LLC raised its stake 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 period. IFP Advisors Inc raised its stake 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 period. World Asset Management Inc raised its stake 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 period. Ameriprise Financial Inc. raised its stake 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 period. Finally, Exane Derivatives raised its stake 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 period. Hedge funds and other institutional investors 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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