BlackBerry (NYSE: BB) recently received a number of ratings updates from brokerages and research firms:
- 6/28/2024 – BlackBerry had its price target lowered by analysts at Raymond James from $5.50 to $4.75. They now have a “market perform” rating on the stock.
- 6/27/2024 – BlackBerry was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating.
- 6/27/2024 – BlackBerry had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $3.00 price target on the stock.
- 6/27/2024 – BlackBerry was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating. They now have a $3.50 price target on the stock.
- 6/27/2024 – BlackBerry had its price target lowered by analysts at Robert W. Baird from $3.50 to $3.00. They now have a “neutral” rating on the stock.
- 6/27/2024 – BlackBerry had its price target lowered by analysts at TD Securities from $3.00 to $2.75. They now have a “hold” rating on the stock.
- 6/27/2024 – BlackBerry had its price target lowered by analysts at Canaccord Genuity Group Inc. from $3.25 to $2.70. They now have a “hold” rating on the stock.
- 6/27/2024 – BlackBerry had its price target lowered by analysts at Canaccord Genuity Group Inc. from $3.25 to $2.70. They now have a “hold” rating on the stock.
BlackBerry Stock Performance
Shares of NYSE:BB traded down $0.02 during midday trading on Tuesday, reaching $2.40. 2,121,812 shares of the company traded hands, compared to its average volume of 10,605,411. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -8.28 and a beta of 1.40. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $2.75 and its two-hundred day moving average price is $2.93. BlackBerry Limited has a 12 month low of $2.20 and a 12 month high of $5.75.
BlackBerry (NYSE:BB – Get Free Report) last issued its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $144.00 million during the quarter, compared to analyst estimates of $132.05 million. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. BlackBerry’s revenue was down 61.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, equities analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current year.
Institutional Investors Weigh In On BlackBerry
BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.
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