BlackBerry (NASDAQ:BBRY) was upgraded by stock analysts at MKM Partners to a “neutral” rating in a report issued on Tuesday. The firm currently has a $10.00 price objective on the stock. MKM Partners’ price target points to a potential upside of 13.73% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Scotiabank raised their price target on shares of BlackBerry to $12.50 and gave thecompany
a “sector perform” rating in a research note on Tuesday. Analysts at Deutsche Bank upgraded shares of BlackBerry to a “hold” rating and set a $9.00 price target on the stock in a research note on Tuesday. Analysts at BGC Financial set a $12.50 price target on shares of BlackBerry and gave the company a “buy” rating in a research note on Tuesday. Finally, analysts at Imperial Capital upgraded shares of BlackBerry to an “in-line” rating and set a $10.00 price target on the stock in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. BlackBerry presently has an average rating of “Hold” and an average price target of $9.87.
Shares of BlackBerry (NASDAQ:BBRY) traded up 1.70% during mid-day trading on Tuesday, hitting $8.95. 11,975,085 shares of the company’s stock traded hands. BlackBerry has a one year low of $7.01 and a one year high of $12.63. The stock has a 50-day moving average of $10. and a 200-day moving average of $10.. The company’s market cap is $4.67 billion. BlackBerry also was the target of unusually large options trading activity on Monday. Stock investors purchased 41,599 call options on the stock. This is an increase of 177% compared to the typical daily volume of 15,021 call options.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, March 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The company had revenue of $660.00 million for the quarter, compared to the consensus estimate of $802.29 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was down 32.4% on a year-over-year basis. Analysts expect that BlackBerry will post $-0.11 EPS for the current fiscal year.
BlackBerry Limited is a provider of wireless solution, comprised of smartphones, service and software. The Company is engaged in the development of integrated hardware, software and services that support multiple wireless network standards. The Company’s portfolio includes the BlackBerry wireless solution, the BlackBerry Wireless Handheld product line, software development tools and other software and hardware.
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