BNP Paribas Upgrades BlackBerry to Neutral (BBRY)
BlackBerry (NASDAQ:BBRY) was upgraded by BNP Paribas from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, American Banking & Market News reports.
A number of other analysts have also recently weighed in on BBRY. 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. Separately, 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. Finally, analysts at Raymond James reiterated a “market perform” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Monday.
Seventeen analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. BlackBerry presently has an average rating of “Hold” and a consensus target price of $9.32.
Shares of BlackBerry (NASDAQ:BBRY) opened at 8.82 on Tuesday. BlackBerry has a one year low of $6.25 and a one year 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 recipient of some unusual options trading on Monday. Stock investors purchased 142,655 call options on the stock. This represents an increase of 185% compared to the typical daily volume of 50,072 call options.
BlackBerry (NASDAQ:BBRY) last announced its earnings results on Friday, June 28th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-0.68 earnings per share for the current fiscal year.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.