CIBC Raises BlackBerry (BB) Price Target to $15.00

BlackBerry (NYSE:BB) had its price objective raised by CIBC from $13.00 to $15.00 in a research report released on Thursday. The firm currently has a positive rating on the stock.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of BlackBerry from a hold rating to a buy rating and set a $13.00 price objective on the stock in a report on Thursday. Imperial Capital increased their price objective on shares of BlackBerry from $10.00 to $11.00 and gave the company a line rating in a report on Saturday, December 30th. Royal Bank of Canada restated a hold rating on shares of BlackBerry in a report on Friday, December 22nd. Scotiabank restated a buy rating and issued a $12.50 price objective on shares of BlackBerry in a report on Thursday, December 21st. Finally, TD Securities increased their price objective on shares of BlackBerry from $12.00 to $14.00 and gave the company a buy rating in a report on Thursday, December 21st. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. BlackBerry currently has an average rating of Hold and a consensus price target of $10.48.

Shares of BlackBerry (NYSE BB) traded down $0.10 during midday trading on Thursday, reaching $13.73. 3,020,000 shares of the company traded hands, compared to its average volume of 6,400,000. BlackBerry has a fifty-two week low of $6.65 and a fifty-two week high of $14.10. The firm has a market capitalization of $7,320.00, a price-to-earnings ratio of 14.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.26 and a quick ratio of 4.26.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, December 20th. The company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.49). BlackBerry had a net margin of 37.36% and a return on equity of 3.70%. The business had revenue of $235.00 million during the quarter, compared to analyst estimates of $216.70 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. The company’s quarterly revenue was down 21.9% on a year-over-year basis. equities research analysts anticipate that BlackBerry will post -0.02 earnings per share for the current fiscal year.

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About BlackBerry

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.

Analyst Recommendations for BlackBerry (NYSE:BB)

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