BlackBerry (NASDAQ:BBRY) Rating Reaffirmed
The investment house has just set a target PPS of $8.50 on BlackBerry (NASDAQ:BBRY) shares. This is -1.28% from the last stock close. In a recent report revealed to clients on Friday morning, MKM Partners has restated their Neutral rating on shares of BBRY.
From a total of 20 analysts covering Blackberry (NASDAQ:BBRY) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $11 while the lowest target price is $6. The mean of all analyst targets is $7.25 with a -15.45% below today’s ($8.61) stock price. Blackberry was the topic of 17 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 14 with “Sector Perform” rating. Canaccord Genuity maintained shares with “Hold” rating and $8 target share price in a report from a September 21. Imperial Capital maintained BBRY stock in a recent report from September 29 with “In-Line” rating. Morgan Stanley upgraded the rating on July 28. Morgan Stanley has a “Equal Weight” rating and a $7 price target on shares. Finally, UBS maintained the stock with “Neutral” rating in a report issued on a September 28.
The stock increased 10.38% or $0.81 during the last trading session, striking $8.61. Approximately 45.25M shares of stock traded hands or 538.22% up from the average. BlackBerry Ltd (NASDAQ:BBRY) has declined 24.49% since May 15, 2015 and is downtrending. It has underperformed by 20.68% the S&P500.
BlackBerry Limited is a well-known provider of mobile communications and services. The company has a market cap of $4.11 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.”