TD Securities Boosts BlackBerry (BB) Price Target to $14.00

BlackBerry (NYSE:BB) had its price target hoisted by equities research analysts at TD Securities from $12.00 to $14.00 in a report issued on Thursday. The firm presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 15.04% from the company’s current price.

A number of other research analysts also recently issued reports on BB. Royal Bank of Canada boosted their price objective on BlackBerry from $10.50 to $11.00 and gave the company a “sector perform” rating in a research note on Thursday. BMO Capital Markets reiterated a “hold” rating and set a $12.00 price objective on shares of BlackBerry in a research note on Thursday. Canaccord Genuity reiterated a “hold” rating and set a $11.00 price objective on shares of BlackBerry in a research note on Thursday. Vetr downgraded BlackBerry from a “strong-buy” rating to a “buy” rating and set a $10.20 price objective for the company. in a research note on Tuesday, September 26th. Finally, BidaskClub downgraded BlackBerry from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. BlackBerry has a consensus rating of “Hold” and an average price target of $9.99.

BlackBerry (NYSE:BB) traded up $1.30 during midday trading on Thursday, hitting $12.17. 29,639,600 shares of the stock traded hands, compared to its average volume of 6,193,867. The stock has a market cap of $5,761.10, a price-to-earnings ratio of 543.50 and a beta of 1.09. The company has a quick ratio of 5.17, a current ratio of 5.19 and a debt-to-equity ratio of 0.27. BlackBerry has a 12-month low of $6.65 and a 12-month high of $12.36.

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 Zacks’ consensus estimate of ($0.03) by ($0.49). The company had revenue of $235.00 million for the quarter, compared to the consensus estimate of $216.70 million. BlackBerry had a net margin of 49.62% and a return on equity of 2.70%. The company’s revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. analysts forecast that BlackBerry will post -0.04 EPS for the current fiscal 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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