Equities research analysts at Goldman Sachs Group, Inc. (The) assumed coverage on shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) in a report released on Monday, MarketBeat Ratings reports. The firm set a “sell” rating and a $8.50 price target on the stock. Goldman Sachs Group, Inc. (The)’s target price points to a potential downside of 9.96% from the stock’s previous close.

Several other brokerages have also recently weighed in on BBRY. Scotiabank upgraded BlackBerry Limited from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, April 12th. CIBC upgraded BlackBerry Limited from a “sector underperform” rating to a “sector perform” rating and set a $10.00 price objective on the stock in a research note on Wednesday, April 12th. Raymond James Financial, Inc. restated an “outperform” rating on shares of BlackBerry Limited in a research note on Wednesday, April 12th. Canaccord Genuity set a $10.00 price objective on BlackBerry Limited and gave the company a “hold” rating in a research note on Wednesday, April 12th. Finally, BMO Capital Markets raised their price objective on BlackBerry Limited from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. BlackBerry Limited currently has a consensus rating of “Hold” and an average target price of $9.47.

Shares of BlackBerry Limited (BBRY) traded down 3.71% during trading on Monday, reaching $9.09. 1,726,656 shares of the company were exchanged. The company has a market capitalization of $4.83 billion, a PE ratio of 37.41 and a beta of 0.97. BlackBerry Limited has a one year low of $6.65 and a one year high of $11.74. The firm’s 50 day moving average price is $10.09 and its 200 day moving average price is $8.79.

BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its earnings results on Friday, June 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. The company had revenue of $244 million for the quarter, compared to analysts’ expectations of $262.80 million. The firm’s quarterly revenue was down 42.5% on a year-over-year basis. Equities research analysts forecast that BlackBerry Limited will post $0.04 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of BBRY. Comerica Bank increased its stake in shares of BlackBerry Limited by 1.3% in the first quarter. Comerica Bank now owns 30,043 shares of the company’s stock worth $280,000 after buying an additional 394 shares during the period. World Asset Management Inc increased its stake in shares of BlackBerry Limited by 1.3% in the first quarter. World Asset Management Inc now owns 32,643 shares of the company’s stock worth $253,000 after buying an additional 421 shares during the period. Korea Investment CORP increased its stake in shares of BlackBerry Limited by 3.0% in the second quarter. Korea Investment CORP now owns 31,665 shares of the company’s stock worth $316,000 after buying an additional 937 shares during the period. Creative Planning increased its stake in shares of BlackBerry Limited by 18.6% in the second quarter. Creative Planning now owns 12,122 shares of the company’s stock worth $121,000 after buying an additional 1,900 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of BlackBerry Limited by 3.1% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 87,650 shares of the company’s stock worth $609,000 after buying an additional 2,650 shares during the period. Hedge funds and other institutional investors own 63.31% of the company’s stock.

BlackBerry Limited Company Profile

BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.

Analyst Recommendations for BlackBerry Limited (NASDAQ:BBRY)

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