BlackBerry (NASDAQ:BBRY)‘s stock had its “market perform” rating reiterated by research analysts at Raymond James in a report released on Monday, American Banking and Market News reports.
The analysts wrote, “On Friday, BlackBerry preannounced much lower than expected F2Q14 results…We rate BBRY Market Perform. While BBRY could surface additional value in a transaction, we balance that with the potential for further deterioration in fundamentals in the meantime – especially if BB10 sell-through does not improve or Services revenues collapse.”
BlackBerry (NASDAQ:BBRY) traded down 5.04% during mid-day trading on Monday, hitting $8.285. 39,960,888 shares of the company’s stock traded hands. BlackBerry has a 1-year low of $6.22 and a 1-year high of $18.32. The stock has a 50-day moving average of $10.29 and a 200-day moving average of $12.58. The company’s market cap is $4.270 billion. BlackBerry also was the target of some unusual options trading activity on Friday. Traders bought 113,542 put options on the stock. This is an increase of approximately 337% compared to the average daily volume of 25,984 put options.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, June 28th. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.17. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.81 billion. BlackBerry’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that BlackBerry will post $-0.68 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “sell” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Monday. Separately, analysts at MKM Partners cut their price target on shares of BlackBerry (NASDAQ:BBRY) from $9.00 to $7.00 in a research note to investors on Monday. They now have a “sell” rating on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Monday. They now have a $9.00 price target on the stock, down previously from $10.00.
Nineteen equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. BlackBerry presently has an average rating of “Hold” and an average target price of $9.33.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.