Weekly Research Analysts’ Ratings Changes for BlackBerry (BB)

BlackBerry (NYSE: BB) recently received a number of ratings updates from brokerages and research firms:

  • 4/3/2019 – BlackBerry was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “BlackBerry reported solid fourth-quarter fiscal 2019 results led by growth in software and services business and lower operating expenses. It provides one of the most secure mobile enterprise solutions in the market. With a holistic growth model, focusing both on organic and inorganic initiatives, BlackBerry aims to expand its market leadership in enterprise mobility. The acquired business of Cylance and its skilled cybersecurity workforce along with its market-leading portfolio of endpoint solutions are a strategic fit and complement its UEM and QNX businesses. The stock has outperformed the industry in the past three months on average. However, technological obsolescence remains a challenge, increasing its costs through R&D efforts for new product introductions. BlackBerry is susceptible to the risk of adverse foreign currency exchange rate fluctuations. Legal issues have further dented the credibility of the company to some extent.”
  • 4/1/2019 – BlackBerry was given a new $11.00 price target on by analysts at Raymond James. They now have a “market perform” rating on the stock.
  • 4/1/2019 – BlackBerry had its price target raised by analysts at TD Securities from $14.00 to $14.50. They now have a “buy” rating on the stock.
  • 3/29/2019 – BlackBerry had its “buy” rating reaffirmed by analysts at CIBC. They now have a $13.00 price target on the stock.
  • 3/22/2019 – BlackBerry is now covered by analysts at Morgan Stanley. They set a “weight” rating on the stock.
  • 3/22/2019 – BlackBerry had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $10.00 price target on the stock.
  • 3/13/2019 – BlackBerry was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.

NYSE:BB opened at $9.30 on Wednesday. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 71.54 and a beta of 2.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.54 and a quick ratio of 2.54. BlackBerry Ltd has a fifty-two week low of $6.57 and a fifty-two week high of $12.55.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Friday, March 29th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $242.81 million. BlackBerry had a net margin of 10.29% and a return on equity of 2.33%. BlackBerry’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. Equities research analysts expect that BlackBerry Ltd will post -0.01 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC grew its stake in shares of BlackBerry by 1,950.0% in the first quarter. Ropes Wealth Advisors LLC now owns 5,125 shares of the company’s stock worth $52,000 after acquiring an additional 4,875 shares during the period. Virtu Financial LLC grew its stake in shares of BlackBerry by 29.4% in the first quarter. Virtu Financial LLC now owns 85,836 shares of the company’s stock worth $866,000 after acquiring an additional 19,526 shares during the period. First Manhattan Co. grew its stake in shares of BlackBerry by 366.7% in the first quarter. First Manhattan Co. now owns 11,200 shares of the company’s stock worth $113,000 after acquiring an additional 8,800 shares during the period. Truvestments Capital LLC bought a new stake in shares of BlackBerry in the first quarter worth approximately $52,000. Finally, Chartwell Investment Partners LLC grew its stake in shares of BlackBerry by 2.0% in the first quarter. Chartwell Investment Partners LLC now owns 142,853 shares of the company’s stock worth $1,441,000 after acquiring an additional 2,835 shares during the period. Institutional investors and hedge funds own 52.71% of the company’s stock.

BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

Featured Article: What are Bollinger Bands?

Receive News & Ratings for BlackBerry Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry Ltd and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit