BlackBerry (TSE:BB) Raised to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of BlackBerry (TSE:BB) (NASDAQ:BBRY) from a hold rating to a strong-buy rating in a research note released on Thursday, Zacks.com reports.

BlackBerry Price Performance

BlackBerry stock opened at C$3.42 on Thursday. The business’s 50-day simple moving average is C$3.77 and its 200 day simple moving average is C$4.00. The stock has a market cap of C$2.02 billion, a price-to-earnings ratio of -11.40, a P/E/G ratio of 0.06 and a beta of 1.08. BlackBerry has a 12-month low of C$3.02 and a 12-month high of C$7.82. The company has a quick ratio of 1.49, a current ratio of 1.43 and a debt-to-equity ratio of 32.47.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported C$0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.07) by C$0.10. The business had revenue of C$232.61 million for the quarter. BlackBerry had a negative return on equity of 15.92% and a negative net margin of 15.24%. As a group, research analysts anticipate that BlackBerry will post 0.0273766 earnings per share for the current year.

About 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.