Blackberry (NASDAQ:BBRY) Rating Reaffirmed
Blackberry (NASDAQ:BBRY) just had their share rating of a ‘”Sector Perform”‘ issued by research analysts at RBC Capital Markets, who now has a $8.00 target on the $4.02B market cap company or a 7.24% upside potential. This key information was announced in a very recent research note on Monday morning.
From a total of 21 analysts covering Blackberry (NASDAQ:BBRY) stock, 3 rate it a ”Buy”, 11 a “Sell”, and 15 a ”Hold”. This means that 10% of the ratings are positive. The highest target price is $11 while the lowest target price is $5. The mean of all analyst targets is $7.14 with a -2.54% below today’s ($7.47) stock price. Blackberry was the topic of 16 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Sterne Agee CRT initiated shares on September 29 with “Neutral” rating. Canaccord Genuity maintained shares with “Hold” rating and $8 target share price in a report from a September 21. Deutsche Bank maintained BBRY stock in a recent report from September 28 with “Hold” rating. Morgan Stanley upgraded the rating on July 28. Morgan Stanley has a “Equal Weight” rating and a $7 price target on shares. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on a September 28.
Approximately 4.54 million shares of stock traded hands. BlackBerry Ltd (NASDAQ:BBRY) has declined 26.58% since May 11, 2015 and is downtrending. It has underperformed by 22.16% the S&P500.
Analysts await BlackBerry Ltd (NASDAQ:BBRY) to reports earnings on December, 18. They expect $-0.20 EPS, down 2,100.00% or $0.21 from last year’s $0.01 per share. After $-0.13 actual EPS reported by BlackBerry Ltd for the previous quarter, Wall Street now forecasts 53.85% negative EPS growth.
BlackBerry Limited is a well-known provider of mobile communications and services. The company has a market cap of $4.02 billion. The Firm is engaged primarily in the provision of the BlackBerry wireless solution, consisting of smartphones, service and software. It currently has negative earnings. The Company’s four areas of business are Devices business, Enterprise Services, BlackBerry Technology Solutions (BTS) business and Messaging.
According to Zacks Investment Research, “BlackBerry Limited is involved in the design, manufacture and marketing of wireless solutions for the mobile communications market. Its integrated hardware, software and services provide platforms and solutions for seamless access to information which includes e-mail, voice, instant messaging, short message service, Internet and intranet-based applications and browsing. The company operates in North America, Europe, Asia Pacific and Latin America. BlackBerry Limited, formerly known as Research In Motion Limited, is headquartered in Waterloo, Canada.”