BlackBerry Price Target Raised to $9.00 at Cowen and Company (BBRY)
Equities research analysts at Cowen and Company hoisted their price objective on shares of BlackBerry (NASDAQ:BBRY) from $7.50 to $9.00 in a research note issued to investors on Friday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price objective would indicate a potential downside of 0.99% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of BlackBerry from $11.00 to $12.00 in a research note on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of BlackBerry to $8.00 in a research note on Thursday. Finally, analysts at BGC Financial upgraded shares of BlackBerry from a “sell” rating to a “buy” rating in a research note on Wednesday. They now have a $15.00 price target on the stock, up previously from $8.00. Eleven analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.86.
Shares of BlackBerry (NASDAQ:BBRY) opened at 9.09 on Friday. BlackBerry has a one year low of $5.44 and a one year high of $15.09. The stock’s 50-day moving average is $7.64 and its 200-day moving average is $8.22. The company’s market cap is $4.717 billion.
BlackBerry (NASDAQ:BBRY) last announced its 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. On average, analysts predict that BlackBerry will post $-0.91 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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