Investment Analysts’ Recent Ratings Updates for BlackBerry (BBRY)

BlackBerry (NASDAQ: BBRY) has recently received a number of price target changes and ratings updates:

• 7/8/2015 – BlackBerry had its price target lowered by analysts at RBC Capital from $11.00 to $10.00. They now have a “sector perform” rating on the stock.
• 7/8/2015 – BlackBerry had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $8.00 price target on the stock.
• 7/3/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co..
• 7/2/2015 – BlackBerry had its price target lowered by analysts at Macquarie from $8.50 to $8.00. They now have an “underperform” rating on the stock.
• 7/2/2015 – BlackBerry had its price target lowered by analysts at RBC Capital from $11.00 to $10.00. They now have a “sector perform” rating on the stock.
• 6/30/2015 – BlackBerry was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $11.33 price target on the stock.
• 6/30/2015 – BlackBerry had its price target lowered by analysts at Cowen and Company from $11.00 to $10.00. They now have a “market perform” rating on the stock.
• 6/28/2015 – BlackBerry had its “hold” rating reaffirmed by analysts at Oppenheimer.
• 6/26/2015 – BlackBerry had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co..
• 6/25/2015 – BlackBerry had its “hold” rating reaffirmed by analysts at MKM Partners.
• 6/25/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at Raymond James. They now have a $10.25 price target on the stock, down previously from $11.00.
• 6/25/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $9.00 price target on the stock, down previously from $10.00.
• 6/24/2015 – BlackBerry had its “sell” rating reaffirmed by analysts at Credit Suisse. They now have a $6.00 price target on the stock.
• 6/24/2015 – BlackBerry was given a new $6.25 price target on by analysts at CIBC. They now have a “sell” rating on the stock.
• 6/24/2015 – BlackBerry had its price target lowered by analysts at Deutsche Bank from $9.00 to $7.00. They now have a “hold” rating on the stock.
• 6/24/2015 – BlackBerry had its price target lowered by analysts at Canaccord Genuity from $10.00 to $8.00. They now have a “hold” rating on the stock.
• 6/23/2015 – BlackBerry had its “sector perform” rating reaffirmed by analysts at Scotiabank. They now have a $12.50 price target on the stock.
• 6/23/2015 – BlackBerry had its “buy” rating reaffirmed by analysts at BGC Financial. They now have a $12.50 price target on the stock.
• 6/23/2015 – BlackBerry was given a new $11.00 price target on by analysts at S&P Equity Research. They now have a “hold” rating on the stock.
• 6/23/2015 – BlackBerry had its price target lowered by analysts at MKM Partners from $10.00 to $8.50. They now have a “neutral” rating on the stock.
• 6/23/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at William Blair.
• 6/23/2015 – BlackBerry was given a new $9.00 price target on by analysts at Robert W. Baird. They now have a “hold” rating on the stock.
• 6/23/2015 – BlackBerry was given a new $10.00 price target on by analysts at RBC Capital. They now have a “hold” rating on the stock.
• 6/23/2015 – BlackBerry had its “hold” rating reaffirmed by analysts at Wells Fargo & Co..
• 6/22/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $11.00 price target on the stock.
• 6/22/2015 – BlackBerry had its “hold” rating reaffirmed by analysts at Oppenheimer.
• 6/19/2015 – BlackBerry had its “in-line” rating reaffirmed by analysts at Imperial Capital. They now have a $10.00 price target on the stock.
• 6/18/2015 – BlackBerry had its “sector perform” rating reaffirmed by analysts at RBC Capital. They now have a $11.00 price target on the stock.
• 6/18/2015 – BlackBerry had its “sell” rating reaffirmed by analysts at Morgan Stanley. They now have a $7.00 price target on the stock.
• 6/15/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at Raymond James. They now have a $11.00 price target on the stock.
• 6/15/2015 – BlackBerry had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co..
• 6/1/2015 – BlackBerry was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $10.38 price target on the stock.
• 6/1/2015 – BlackBerry was downgraded by analysts at Zacks from a “hold” rating to a “strong sell” rating. Zacks’ analyst wrote, “BlackBerry reported mixed fourth-quarter 2015 financial results wherein the bottom line outpaced the Zacks Consensus Estimate while the top line missed the same. Continuous decline in smartphone sales, stiff competition from handset manufacturers, a lackluster operating platform and a change in business model will continue to act as headwinds for the company while moving ahead.”
• 5/29/2015 – BlackBerry had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $7.00 price target on the stock. They wrote, “Remaining greenfield opportunities look increasingly limited and the recent survey by the MS Software team could suggest the market for stand-alone mobile security platforms is more limited than many would suppose.”In the report Morgan Stanley noted, “Our checks also indicate MDM licenses from all vendors are being offered to carriers at significant wholesale discounts (as low as $2-$5 per month per device) as telcos aggressively bundle enterprise service agreements.”Faucette believes that BlackBerry’s ARPU target of $9 per month appears “unrealistic with its current offerings,” since the challenging pricing environment. Although there has been progress on developing the platform, checks suggest EZPass conversion was at around 25 percent. Moreover, the most recent CIO Survey indicated that BlackBerry continuing to lag behind its MDM peers in evaluation opportunities. This implies that there could be “a long road”
• 5/23/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co..
• 5/14/2015 – BlackBerry had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $11.00 price target on the stock, up previously from $10.00. They wrote, “…the company’s financial stability is providing management with greater flexibility around potential acquisitions that could advance its core security and/or IoT strategies – both in F2016 and longer-term. Relative to IoT, we believe the company is executing to a compelling strategy and vision that if successful could become a substantial long-term revenue driver as the market blossoms.” BlackBerry holds a leading position in IoT and is poised to leverage its global APN footprint. The company’s future software revenues are likely to be driven by its technology licensing efforts. “Management is still evaluating the best paths to a responsible licensing program, but believes both inbound and outbound opportunities can contribute to its $600MM Software target in FH2:16,” the analysts added.The company’s hardware portfolio is in transition with newer devices like Passport, Classic and Leap taking the place of legacy products. “We expect the multi-quarter transition to fewer units/higher ASPs can fuel a similar Y/Y revenue contribution through the first three quarters of F2016, with the recent launch of T-Mobile an incremental positive for FQ2:16,”

BlackBerry Ltd (NASDAQ:BBRY) opened at 7.77 on Friday. BlackBerry Ltd has a one year low of $7.63 and a one year high of $12.63. The stock has a 50-day moving average of $9.12 and a 200-day moving average of $9.88. The company’s market cap is $4.11 billion.

BlackBerry (NASDAQ:BBRY) last announced its earnings results on Tuesday, June 23rd. The smartphone producer reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.02. The company had revenue of $658.00 million for the quarter. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was down 31.9% on a year-over-year basis. On average, analysts predict that BlackBerry Ltd will post $-0.23 earnings per share for the current fiscal year.

BlackBerry Limited (NASDAQ:BBRY) is a provider of mobile communications and services. The Company is engaged primarily in the provision of the BlackBerry wireless solution, consisting of smartphones, service and software. The Company’s four areas of business are Devices business, Enterprise Services, BlackBerry Technology Solutions (BTS) business and Messaging. The Company’s Devices business is focused on delivering smartphone products. BlackBerry’s Enterprise Services business offers enterprise products and services. The Company’s BTS business consists of five units: QNX Software Systems Limited (QNX), Certicom, Paratek, the BlackBerry Internet of Things (IoT) Platform, and Intellectual Property and Patent Licensing (IPPL). The Company’s Messaging business is engaged in providing BlackBerry Messenger (BBM), the Company’s instant mobile to mobile private messaging service. The Company offers a portfolio of smartphone products to both the enterprise and consumer markets.

[“source – sleekmoney.com”]