Canaccord Genuity Reiterates “Hold” Rating for BlackBerry (BB)

BlackBerry (NYSE:BB)‘s stock had its “hold” rating restated by Canaccord Genuity in a research note issued to investors on Thursday. They currently have a $11.00 price objective on the stock. Canaccord Genuity’s price target would suggest a potential downside of 4.35% from the company’s previous close.

BB has been the subject of a number of other reports. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, January 24th. Macquarie boosted their price objective on BlackBerry from $14.50 to $15.50 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Vetr downgraded BlackBerry from a “strong-buy” rating to a “strong sell” rating and set a $8.80 price objective for the company. in a research note on Monday, March 12th. TD Securities boosted their price objective on BlackBerry from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of BlackBerry in a research note on Friday, December 22nd. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. BlackBerry has a consensus rating of “Hold” and a consensus target price of $10.87.

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Shares of NYSE:BB opened at $11.50 on Thursday. The company has a market cap of $6,172.44, a P/E ratio of 230.00 and a beta of 1.12. The company has a quick ratio of 4.26, a current ratio of 5.49 and a debt-to-equity ratio of 0.31. BlackBerry has a 12-month low of $6.83 and a 12-month high of $14.55.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, March 28th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.06. The company had revenue of $239.00 million during the quarter, compared to the consensus estimate of $217.88 million. BlackBerry had a return on equity of 3.70% and a net margin of 43.46%. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. sell-side analysts expect that BlackBerry will post -0.07 earnings per share for the current year.

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BlackBerry Company Profile

BlackBerry Limited operates as security software and services company in securing, connecting, and mobilizing enterprises worldwide. The company operates in three segments: Software & Services, Mobility Solutions, and Service Access Fees (SAF). The Software & Services segment offers enterprise software and services, including mobile-first security, productivity, collaboration, and end-point management solutions for the Enterprise of Things through the BlackBerry Secure platform; BlackBerry technology solutions, such as BlackBerry QNX, Certicom, Paratek, BlackBerry Radar, and intellectual property and licensing; AtHoc, which provides secure, networked crisis communications solutions; SecuSmart that offers secure voice and text messaging solutions with encryption and anti-eavesdropping facilities; licensing and services related to BlackBerry Messenger; and cybersecurity consulting services and tools.

Analyst Recommendations for BlackBerry (NYSE:BB)

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