BlackBerry (NYSE:BB) Given “Market Perform” Rating at Raymond James

BlackBerry (NYSE:BB)‘s stock had its “market perform” rating reiterated by equities research analysts at Raymond James in a research report issued to clients and investors on Thursday, Price Targets.com reports. They currently have a $9.50 price target on the stock. Raymond James’ price objective indicates a potential downside of 8.48% from the company’s current price.

Several other research analysts have also commented on BB. Canaccord Genuity raised shares of BlackBerry from a “sell” rating to a “hold” rating and set a $10.00 price objective for the company in a research note on Wednesday, August 18th. CIBC lowered shares of BlackBerry from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $9.00 to $11.00 in a research note on Friday, June 25th. Zacks Investment Research raised shares of BlackBerry from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research note on Wednesday, June 2nd. TD Securities lowered shares of BlackBerry from a “hold” rating to a “reduce” rating and set a $8.50 price objective for the company. in a research note on Friday, June 25th. Finally, Royal Bank of Canada reaffirmed a “sell” rating and set a $9.50 price objective on shares of BlackBerry in a research note on Friday, September 17th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $10.67.

BlackBerry stock opened at $10.38 on Thursday. The stock has a market cap of $5.89 billion, a P/E ratio of -11.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.37 and a quick ratio of 2.37. BlackBerry has a 1 year low of $4.37 and a 1 year high of $28.77. The firm’s 50 day moving average price is $10.36 and its 200-day moving average price is $10.49.

BlackBerry (NYSE:BB) last posted its earnings results on Tuesday, September 21st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. BlackBerry had a negative net margin of 61.56% and a positive return on equity of 1.02%. The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $164.28 million. During the same period last year, the firm posted $0.10 earnings per share. BlackBerry’s revenue for the quarter was down 32.4% compared to the same quarter last year.

In other news, COO Thomas Eacobacci sold 109,994 shares of the business’s stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $10.06, for a total transaction of $1,106,539.64. Following the sale, the chief operating officer now owns 281,294 shares in the company, valued at $2,829,817.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Atlas Capital Advisors LLC purchased a new stake in BlackBerry in the 1st quarter worth approximately $34,000. Global Wealth Management Investment Advisory Inc. boosted its position in BlackBerry by 751.8% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 4,259 shares of the company’s stock worth $36,000 after purchasing an additional 3,759 shares in the last quarter. Quadrant Capital Group LLC boosted its position in BlackBerry by 76.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,128 shares of the company’s stock worth $38,000 after purchasing an additional 1,354 shares in the last quarter. Credit Agricole S A boosted its position in BlackBerry by 74.8% in the 2nd quarter. Credit Agricole S A now owns 3,469 shares of the company’s stock worth $42,000 after purchasing an additional 1,484 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in BlackBerry in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 36.16% of the company’s stock.

BlackBerry Company Profile

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.

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