BlackBerry Upgraded to Positive at Canaccord Genuity (BBRY)
BlackBerry (NASDAQ:BBRY) was upgraded by equities researchers at Canaccord Genuity to a “positive” rating in a research report issued on Friday. The firm currently has a $9.00 target price on the stock, up from their previous target price of $8.00. Canaccord Genuity’s target price would indicate a potential downside of 0.99% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of BlackBerry from $7.50 to $9.00 in a research note on Friday. They now have a “market perform” rating on the stock. Separately, 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. Finally, analysts at Deutsche Bank raised their price target on shares of BlackBerry to $8.00 in a research note on Thursday. Eleven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price 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 issued its quarterly earnings data on Thursday, June 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was down 68.5% on a year-over-year basis. Analysts expect that BlackBerry will post $-0.95 EPS 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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