BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)‘s stock had its “market perform” rating restated by equities researchers at William Blair in a report released on Wednesday.

Several other research analysts have also commented on BBRY. Wells Fargo & Co reiterated a “market perform” rating on shares of BlackBerry in a research report on Thursday, December 22nd. Imperial Capital dropped their price target on BlackBerry from $8.50 to $8.25 and set an “in-line” rating for the company in a research report on Thursday, December 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $8.00 price target on shares of BlackBerry in a research report on Friday, December 23rd. Canaccord Genuity reiterated a “hold” rating and issued a $7.50 price target (down previously from $8.00) on shares of BlackBerry in a research report on Friday, December 23rd. Finally, Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research report on Friday, December 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.63.

Analyst Recommendations for BlackBerry (NASDAQ:BBRY)

BlackBerry (NASDAQ:BBRY) opened at 9.10 on Wednesday. The company’s 50-day moving average price is $7.50 and its 200 day moving average price is $7.37. BlackBerry has a 52-week low of $6.23 and a 52-week high of $9.19. The stock’s market capitalization is $4.83 billion.

BlackBerry (NASDAQ:BBRY) last released its quarterly earnings results on Friday, March 31st. The smartphone producer reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. The company earned $297 million during the quarter, compared to analyst estimates of $288.45 million. BlackBerry had a negative return on equity of 3.62% and a negative net margin of 93.19%. The firm’s revenue was down 39.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) earnings per share. Equities analysts forecast that BlackBerry will post $0.02 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of BlackBerry by 4.3% in the fourth quarter. State Street Corp now owns 26,952 shares of the smartphone producer’s stock valued at $186,000 after buying an additional 1,100 shares during the last quarter. First Trust Advisors LP raised its position in shares of BlackBerry by 4.4% in the third quarter. First Trust Advisors LP now owns 39,867 shares of the smartphone producer’s stock valued at $318,000 after buying an additional 1,664 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of BlackBerry by 0.3% in the third quarter. Great West Life Assurance Co. Can now owns 608,635 shares of the smartphone producer’s stock valued at $4,843,000 after buying an additional 1,938 shares during the last quarter. First Allied Advisory Services Inc. raised its position in shares of BlackBerry by 9.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 29,020 shares of the smartphone producer’s stock valued at $200,000 after buying an additional 2,500 shares during the last quarter. Finally, Comerica Bank raised its position in shares of BlackBerry by 12.1% in the fourth quarter. Comerica Bank now owns 29,649 shares of the smartphone producer’s stock valued at $216,000 after buying an additional 3,210 shares during the last quarter. 62.41% of the stock is currently owned by institutional investors.

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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