Sanford C. Bernstein Reiterates Market Perform Rating for BlackBerry (BBRY)
BlackBerry (NASDAQ:BBRY)‘s stock had its “market perform” rating reiterated by investment analysts at Sanford C. Bernstein in a note issued to investors on Wednesday, American Banking and Market News reports.
A number of other firms have also recently commented on BBRY. Analysts at TD Securities cut their price target on shares of BlackBerry (NASDAQ:BBRY) to $9.00 in a research note to investors on Tuesday, September 24th. Separately, analysts at Cormark downgraded shares of BlackBerry (NASDAQ:BBRY) to a “market perform” rating in a research note to investors on Tuesday, September 24th. Finally, analysts at National Bank Financial upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “sector perform” rating in a research note to investors on Tuesday, September 24th. They now have a $9.00 price target on the stock, up previously from $5.00. Fourteen equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. BlackBerry has a consensus rating of “Hold” and a consensus price target of $9.55.
BlackBerry (NASDAQ:BBRY) opened at 8.03 on Wednesday. BlackBerry has a one year low of $7.27 and a one year high of $18.32. The stock has a 50-day moving average of $10.14 and a 200-day moving average of $12.39. The company’s market cap is $4.139 billion.
BlackBerry (NASDAQ:BBRY) last announced its earnings results on Friday, September 27th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.15) by $0.32. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.63 billion. The company’s quarterly revenue was down 45.0% on a year-over-year basis. Analysts expect that BlackBerry will post $-1.13 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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