BlackBerry Ltd. (BBRY) Stock Rating Upgraded by Vetr Inc.
BlackBerry Ltd. (NASDAQ:BBRY) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $8.59 price objective on the smartphone producer’s stock. Vetr‘s price objective would suggest a potential upside of 12.21% from the stock’s previous close.
BBRY has been the topic of a number of other research reports. MKM Partners reiterated a “hold” rating on shares of BlackBerry in a report on Sunday, June 26th. Imperial Capital reiterated an “in-line” rating and set a $7.00 target price on shares of BlackBerry in a report on Tuesday, June 28th. RBC Capital Markets reiterated a “sector perform” rating and set a $9.00 target price on shares of BlackBerry in a report on Wednesday, July 20th. Wells Fargo & Co. reiterated a “market perform” rating and set a $7.62 target price on shares of BlackBerry in a report on Monday, June 13th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of BlackBerry in a report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $7.93.
Shares of BlackBerry (NASDAQ:BBRY) traded down 2.79% during trading on Tuesday, reaching $7.67. The company had a trading volume of 3,714,128 shares. The firm’s 50 day moving average price is $7.73 and its 200 day moving average price is $7.29. The firm’s market capitalization is $4.02 billion. BlackBerry has a 12 month low of $6.23 and a 12 month high of $9.46.
BlackBerry (NASDAQ:BBRY) last released its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $352 million for the quarter. BlackBerry had a negative return on equity of 3.36% and a negative net margin of 78.41%. The business’s revenue was down 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. Equities analysts predict that BlackBerry will post ($0.01) EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in BlackBerry by 0.8% in the second quarter. Primecap Management Co. CA now owns 76,722,307 shares of the smartphone producer’s stock worth $514,807,000 after buying an additional 624,400 shares during the period. Renaissance Technologies LLC increased its position in BlackBerry by 11.9% in the first quarter. Renaissance Technologies LLC now owns 14,766,100 shares of the smartphone producer’s stock worth $119,473,000 after buying an additional 1,575,300 shares during the period. Vanguard Group Inc. increased its position in BlackBerry by 11.5% in the second quarter. Vanguard Group Inc. now owns 9,288,048 shares of the smartphone producer’s stock worth $62,323,000 after buying an additional 958,365 shares during the period. Bank of Montreal Can purchased a new position in BlackBerry during the second quarter worth approximately $32,778,000. Finally, TD Asset Management Inc. increased its position in BlackBerry by 3.1% in the second quarter. TD Asset Management Inc. now owns 4,282,064 shares of the smartphone producer’s stock worth $28,593,000 after buying an additional 130,233 shares during the period. Institutional investors and hedge funds 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.
To view Vetr’s full report, visit Vetr’s official website.
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