BlackBerry (NYSE:BB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, December 22nd. The firm currently has a $14.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 2.56% from the stock’s previous close.
According to Zacks, “Shares of BlackBerry have outperformed its industry on a year-to-date basis. The stock has rallied 71.3% compared with its industry's gain of only 9.9%. Ushering in further good news, the company outperformed in the third quarter of fiscal 2018 driven by robust software sales. Moreover, BlackBerry’s decision to focus exclusively on software business seems to be paying off. In fact, software and service revenues are estimated to rise between 10% and 15% in 2018. Growth of its cybersecurity business is also a huge positive. Additionally, the company has inked multiple deals to expand its software business. BlackBerry’s projection of its free cash flow in fiscal 2018 is also encouraging. However, the unfavorable verdict in the Nokia case is disappointing. Charges pertaining to the issue hurt the bottom line in the fiscal third quarter as well.”
A number of other research firms also recently issued reports on BB. Canaccord Genuity reiterated a “hold” rating and issued a $11.00 price objective on shares of BlackBerry in a report on Thursday, December 21st. BMO Capital Markets reiterated a “hold” rating and issued a $12.00 price objective on shares of BlackBerry in a report on Thursday, December 21st. TD Securities increased their price objective on BlackBerry from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Royal Bank of Canada increased their price objective on BlackBerry from $10.50 to $11.00 and gave the stock a “sector perform” rating in a report on Thursday, December 21st. Finally, Vetr downgraded BlackBerry from a “sell” rating to a “strong sell” rating and set a $10.12 price objective for the company. in a report on Wednesday, October 11th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. BlackBerry presently has a consensus rating of “Hold” and a consensus price target of $10.48.
Shares of BlackBerry (NYSE BB) traded up $0.20 during trading on Friday, hitting $13.65. The company had a trading volume of 6,292,768 shares, compared to its average volume of 7,590,000. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.26 and a current ratio of 4.26. The company has a market capitalization of $7,300.00, a P/E ratio of 20.68 and a beta of 1.09. BlackBerry has a one year low of $6.65 and a one year high of $14.55.
BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, December 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.49). The firm had revenue of $235.00 million during the quarter, compared to the consensus estimate of $216.70 million. BlackBerry had a return on equity of 3.70% and a net margin of 37.36%. BlackBerry’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. equities analysts predict that BlackBerry will post -0.02 EPS for the current year.
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BlackBerry Company Profile
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.
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