BlackBerry Given “Neutral” Rating at Nomura (BBRY)
BlackBerry (NASDAQ:BBRY)‘s stock had its “neutral” rating restated by equities research analysts at Nomura in a research note issued to investors on Friday. They currently have a $10.00 target price on the stock, up from their previous target price of $9.00. Nomura’s target price would suggest a potential upside of 10.01% from the company’s current price.
BlackBerry (NASDAQ:BBRY) traded up 7.46% on Friday, hitting $9.7682. The stock had a trading volume of 41,600,652 shares. BlackBerry has a 52 week low of $5.44 and a 52 week high of $15.09. The stock has a 50-day moving average of $7.64 and a 200-day moving average of $8.22. The company’s market cap is $5.069 billion.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Thursday, June 19th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.74. The company had revenue of $966.00 million for the quarter, compared to the consensus estimate of $976.25 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was down 68.5% on a year-over-year basis. Analysts expect that BlackBerry will post $-0.91 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BBRY. Analysts at CIBC reiterated a “sector underperformer” rating on shares of BlackBerry in a research note on Friday. They now have a $6.25 price target on the stock, up previously from $5.00. Separately, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of BlackBerry in a research note on Friday. They now have a $9.50 price target on the stock, down previously from $10.00. Finally, analysts at Canaccord Genuity upgraded shares of BlackBerry to a “positive” rating in a research note on Friday. They now have a $9.00 price target on the stock, up previously from $8.00. Ten analysts have rated the stock with a sell rating, eighteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. BlackBerry has a consensus rating of “Hold” and a consensus target price of $8.96.
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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