Zacks Investment Research upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a buy rating in a research note published on Thursday, January 4th. They currently have $13.00 price target on the stock.
According to Zacks, “Shares of BlackBerry outperformed its industry in 2017. The stock rallied 62.2% compared with its industry's gain of only 10.9%. Ushering in further good news, the company's deal with Baidu on a self-driving car project pleased investors. Consequently, the stock appreciated significantly following the news. BlackBerry’s decision to focus exclusively on software business seems to be paying off as robust software sales are aiding the company immensely. In fact, software and service revenues are estimated to rise between 10% and 15% in fiscal 2018. Growth of its cybersecurity business is also a huge positive. 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 fourth quarter.”
A number of other equities research analysts also recently commented on the stock. Canaccord Genuity reissued a hold rating and issued a $11.00 price objective on shares of BlackBerry in a research report on Thursday, December 21st. BMO Capital Markets reaffirmed a hold rating and issued a $12.00 target price on shares of BlackBerry in a research report on Thursday, December 21st. Royal Bank of Canada increased their price target on shares of BlackBerry from $10.50 to $11.00 and gave the stock a sector perform rating in a research note on Thursday, December 21st. TD Securities increased their price target on shares of BlackBerry from $12.00 to $14.00 and gave the stock a buy rating in a research note on Thursday, December 21st. Finally, Scotiabank reiterated a buy rating and set a $12.50 price target on shares of BlackBerry in a research note on Thursday, December 21st. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $10.48.
BlackBerry (NYSE:BB) traded down $0.22 during mid-day trading on Thursday, hitting $13.45. 11,397,700 shares of the stock were exchanged, compared to its average volume of 13,519,338. The stock has a market capitalization of $7,280.00, a PE ratio of 20.38 and a beta of 1.09. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.33. BlackBerry has a twelve month low of $6.65 and a twelve month high of $14.55.
BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, December 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.49). The business had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $216.70 million. BlackBerry had a net margin of 37.36% and a return on equity of 3.70%. The firm’s revenue was down 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. equities research analysts expect that BlackBerry will post -0.02 earnings per share for the current year.
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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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