BlackBerry Downgraded to Underperform at Oppenheimer (BBRY)
BlackBerry (NASDAQ:BBRY) was downgraded by analysts at Oppenheimer from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on BBRY. Analysts at RBC Capital upgraded shares of BlackBerry from an “underperform” rating to a “sector perform” rating in a research note to investors on Friday. They now have a $10.00 price target on the stock, up previously from $6.00. Separately, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of BlackBerry in a research note to investors on Thursday. They now have a $9.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of BlackBerry in a research note to investors on Wednesday, January 8th. They now have a $9.00 price target on the stock. Fourteen investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $7.79.
Shares of BlackBerry (NASDAQ:BBRY) traded down 4.11% on Monday, hitting $8.40. 26,280,540 shares of the company’s stock traded hands. BlackBerry has a 52-week low of $5.44 and a 52-week high of $18.32. The stock’s 50-day moving average is $6.90 and its 200-day moving average is $8.39. The company’s market cap is $4.354 billion.
BlackBerry (NASDAQ:BBRY) last released its earnings data on Friday, December 20th. The company reported ($0.67) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.43) by $0.24. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.59 billion. The company’s quarterly revenue was down 56.3% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-1.82 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.
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