While the BlackBerry’s (NASDAQ:BBRY) Priv smartphone is already receiving excellent reviews from the blogosphere, the company’s CEO today provide us all with a little more insight into how the company will operate over the remainder of 2016. According to CNET, in addition to the Priv Smartphone, BlackBerry Ltd (NASDAQ:BBRY) may released a second phone, which also will be based around Alphabet’s Android operating system.
BlackBerry Ltd (NASDAQ:BBRY) CEO John Chen confirmed that their Blackberry 10 operating system will not be going into any new smartphones in 2016, but wants Blackberry fans to know that he has not given up on the operating system, which he hopes they can bring back after the company garners more popularity for their devices. Chen also pointed out that they are seeking national security certification for the BlackBerry 10 OS this year. The stock decreased 1.35% or $0.12 during the last trading session, hitting $8.74. Approximately 7.69 million shares traded hands. BBRY shares have declined 7.90% since June 2, 2015 and are currently downtrending. It has underperformed the S&P500 by 3.21%.
From a total of 14 analysts covering Blackberry (NASDAQ:BBRY) stock, 0 rate it a “Buy”, 2 a “Sell”, and 12 a “Hold”. This means that 0 of the ratings are positive. The highest target price is $9 while the lowest target price is $6. The mean of all analyst targets is $7.63 which is -12.70% below today’s ($8.74) stock price. Blackberry was the topic of 21 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Imperial Capital maintained shares on December 22 with a “In-Line” rating. Canaccord Genuity maintained shares with a”Hold” rating and a $8 target share price in their report from a September 21. RBC Capital Markets maintained BBRY stock in a recent report from December 21 with a “Sector Perform” rating. Morgan Stanley upgraded the rating on July 28. Morgan Stanley has a “Equal Weight” rating and a $7 price target on shares. Finally, Sterne Agee CRT initiated the stock with a “Neutral” rating in a report they issued on a September 29.
BlackBerry Limited is a well-known provider of mobile communications and services. The company has a market cap of $4.65 billion. The Firm is engaged primarily in the provision of the BlackBerry wireless solution, consisting of smartphones, service and software. It has 142.58 P/E ratio. The Company’s four areas of business are Devices business, Enterprise Services, BlackBerry Technology Solutions (BTS) business and Messaging.