BlackBerry Limited’s (NASDAQ:BBRY) “Market Perform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) in a research note released on Monday, June 26th. The brokerage currently has a $10.00 price target on the stock, up from their previous price target of $9.00.

Other analysts also recently issued research reports about the stock. Raymond James Financial, Inc. downgraded shares of BlackBerry Limited from an outperform rating to a market perform rating and increased their target price for the company from $9.50 to $11.00 in a report on Monday, May 29th. Royal Bank Of Canada reiterated a sector perform rating and issued a $9.50 target price on shares of BlackBerry Limited in a report on Monday, June 26th. Imperial Capital restated an in-line rating and set a $8.25 price objective on shares of BlackBerry Limited in a report on Thursday, April 6th. Deutsche Bank AG reiterated a hold rating and set a $7.50 target price (up previously from $7.00) on shares of BlackBerry Limited in a research report on Monday, June 26th. Finally, Zacks Investment Research lowered shares of BlackBerry Limited from a strong-buy rating to a hold rating in a research report on Friday, April 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $9.32.

BlackBerry Limited (NASDAQ:BBRY) traded down 1.140% on Monday, hitting $9.975. The company’s stock had a trading volume of 5,086,659 shares. The company has a market capitalization of $5.30 billion, a P/E ratio of 41.049 and a beta of 0.99. BlackBerry Limited has a 1-year low of $6.65 and a 1-year high of $11.74. The company has a 50 day moving average price of $10.32 and a 200-day moving average price of $8.68.

BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last announced its earnings results on Friday, June 23rd. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $244 million during the quarter, compared to the consensus estimate of $262.80 million. BlackBerry Limited had a net margin of 11.68% and a negative return on equity of 1.67%. The company’s quarterly revenue was down 42.5% on a year-over-year basis. On average, equities analysts forecast that BlackBerry Limited will post $0.04 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in BBRY. Beech Hill Advisors Inc. raised its position in shares of BlackBerry Limited by 8.1% in the first quarter. Beech Hill Advisors Inc. now owns 86,430 shares of the company’s stock worth $670,000 after buying an additional 6,500 shares during the period. Kissinger Financial Services LLC raised its position in shares of BlackBerry Limited by 23.6% in the first quarter. Kissinger Financial Services LLC now owns 42,565 shares of the company’s stock worth $330,000 after buying an additional 8,131 shares during the period. Capstone Asset Management Co. raised its position in shares of BlackBerry Limited by 13.2% in the first quarter. Capstone Asset Management Co. now owns 62,943 shares of the company’s stock worth $488,000 after buying an additional 7,330 shares during the period. Bank of Montreal Can raised its position in shares of BlackBerry Limited by 2.1% in the first quarter. Bank of Montreal Can now owns 5,640,607 shares of the company’s stock worth $43,715,000 after buying an additional 113,419 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in BlackBerry Limited by 7.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,492,699 shares of the company’s stock valued at $10,284,000 after buying an additional 109,818 shares during the last quarter. Institutional investors own 62.41% of the company’s stock.

BlackBerry Limited Company Profile

BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of 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.

Analyst Recommendations for BlackBerry Limited (NASDAQ:BBRY)

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