BlackBerry Upgraded to “Market Perform” by FBR Capital Markets (BBRY)
BlackBerry (NASDAQ:BBRY) was upgraded by investment analysts at FBR Capital Markets from an “underperform” rating to a “market perform” rating in a report issued on Tuesday, American Banking News.com reports. The firm currently has a $10.00 target price on the stock. FBR Capital Markets’ price objective points to a potential upside of 11.36% from the company’s current price.
A number of other analysts have also recently weighed in on BBRY. Analysts at RBC Capital raised their price target on shares of BlackBerry from $10.00 to $11.00 in a research note on Thursday, February 13th. Separately, analysts at Jefferies Group raised their price target on shares of BlackBerry from $6.00 to $9.00 in a research note on Wednesday, February 5th. Finally, analysts at MKM Partners raised their price target on shares of BlackBerry from $6.75 to $10.00 in a research note on Monday, January 27th. They now have a “neutral” rating on the stock. Thirteen analysts have rated the stock with a sell rating, twenty-two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. BlackBerry has an average rating of “Hold” and a consensus price target of $8.15.
BlackBerry (NASDAQ:BBRY) opened at 8.98 on Tuesday. BlackBerry has a 1-year low of $5.44 and a 1-year high of $16.82. The stock has a 50-day moving average of $9.07 and a 200-day moving average of $8.44. The company’s market cap is $4.655 billion. BlackBerry also was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 93,612,769 shares, a decline of 13.2% from the January 15th total of 107,805,915 shares. Currently, 19.2% of the shares of the company are sold short. Based on an average daily trading volume, of 38,240,903 shares, the short-interest ratio is presently 2.4 days.
BlackBerry (NASDAQ:BBRY) last issued its quarterly 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. BlackBerry’s revenue was down 56.3% compared to the same quarter last year. On average, analysts predict that BlackBerry will post $-1.82 earnings per share for the current fiscal year.
BlackBerry Limited, formerly Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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