BlackBerry Price Target Cut to $7.80 by Analysts at Goldman Sachs Group Inc. (BBRY)
Investment analysts at Goldman Sachs Group Inc. reduced their target price on shares of BlackBerry (NASDAQ:BBRY) to $7.80 in a note issued to investors on Tuesday, Analyst Ratings Network.com reports. Goldman Sachs Group Inc.’s target price points to a potential upside of 20.09% from the stock’s previous close.
BlackBerry (NASDAQ:BBRY) opened at 6.73 on Tuesday. BlackBerry has a 52-week low of $6.40 and a 52-week high of $18.32. The stock has a 50-day moving average of $8.34 and a 200-day moving average of $11.13. The company’s market cap is $3.463 billion.
BlackBerry (NASDAQ:BBRY) last announced its earnings results on Friday, September 27th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the 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 revenue for the quarter was down 45.0% on a year-over-year basis. Analysts expect that BlackBerry will post $-1.31 EPS for the current fiscal year.
A number of other firms have also recently commented on BBRY. Analysts at Deutsche Bank upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note to investors on Tuesday. Separately, analysts at Societe Generale upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note to investors on Tuesday. Finally, analysts at CIBC downgraded shares of BlackBerry from a “sector outperform” rating to an “underperform” rating in a research note to investors on Tuesday. They now have a $5.00 price target on the stock. Eleven analysts have rated the stock with a sell rating, twenty-six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.61.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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