BlackBerry (BB) Price Target Raised to $15.00 at CIBC

BlackBerry (NYSE:BB) had its price objective raised by research analysts at CIBC from $13.00 to $15.00 in a research report issued to clients and investors on Thursday. The firm currently has a “positive” rating on the stock. CIBC’s price objective suggests a potential upside of 10.86% from the stock’s current price.

BB has been the subject of several other research reports. Vetr downgraded shares of BlackBerry from a “sell” rating to a “strong sell” rating and set a $10.12 price objective for the company. in a research report on Wednesday, October 11th. Canaccord Genuity raised their price objective on shares of BlackBerry from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, November 14th. Scotiabank reaffirmed an “outperform” rating and set a $13.50 price objective on shares of BlackBerry in a research report on Thursday, September 21st. Finally, Bank of America raised their price objective on shares of BlackBerry from $7.50 to $8.00 and gave the stock an “underperform” rating in a research report on Friday, September 22nd. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $10.48.

Shares of BlackBerry (NYSE BB) traded up $1.51 during mid-day trading on Thursday, hitting $13.53. 23,116,500 shares of the stock traded hands, compared to its average volume of 16,786,000. The firm has a market cap of $7,220.00, a P/E ratio of 14.09 and a beta of 1.09. BlackBerry has a one year low of $6.65 and a one year high of $13.56. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.33.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, December 20th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.49). The company had revenue of $235.00 million for the quarter, compared to analyst estimates of $216.70 million. BlackBerry had a return on equity of 3.70% and a net margin of 37.36%. The business’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. equities analysts expect that BlackBerry will post -0.02 EPS for the current year.

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About BlackBerry

BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and 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.