BlackBerry Price Target Raised to $9.00 at Cowen and Company (BBRY)
Equities researchers at Cowen and Company increased their price objective on shares of BlackBerry (NASDAQ:BBRY) from $8.00 to $9.00 in a research report issued on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s target price would indicate a potential upside of 2.04% from the company’s current price.
BBRY has been the subject of a number of other recent research reports. Analysts at BNP Paribas upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at Citigroup Inc. cut their price target on shares of BlackBerry (NASDAQ:BBRY) to $7.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Finally, analysts at Paradigm Capital downgraded shares of BlackBerry (NASDAQ:BBRY) from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $10.50 price target on the stock, down previously from $15.00.
Seventeen investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. BlackBerry presently has an average rating of “Hold” and an average price target of $9.32.
BlackBerry (NASDAQ:BBRY) opened at 8.82 on Tuesday. BlackBerry has a 52-week low of $6.25 and a 52-week high of $18.32. The stock has a 50-day moving average of $10.28 and a 200-day moving average of $12.54. The company’s market cap is $4.546 billion. BlackBerry also was the target of some unusual options trading activity on Monday. Investors acquired 142,655 call options on the company. This is an increase of 185% compared to the average volume of 50,072 call options.
BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Friday, June 28th. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.17. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.81 billion. BlackBerry’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that BlackBerry will post $-0.68 EPS for the current fiscal year.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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