RBC Capital analyst Paul Treiber reiterated a Sell rating on BlackBerry (BB) today and set a price target of C$9.50. The company’s shares closed last Thursday at $9.06.
According to TipRanks.com, Treiber is a 5-star analyst with an average return of 22.2% and a 77.0% success rate. Treiber covers the Technology sector, focusing on stocks such as Enghouse Systems, Sierra Wireless, and Open Text.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for BlackBerry with a $9.08 average price target.
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Based on BlackBerry’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $210 million and GAAP net loss of $315 million. In comparison, last year the company earned revenue of $282 million and had a GAAP net loss of $41 million.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BB in relation to earlier this year.
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BlackBerry Ltd. engages in the provision of enterprise software and services, which focuses on securing and managing Internet of Things endpoints. It offers a platform comprised of communication and collaboration software and safety-certified embedded solutions. The company was founded by Michael Lazaridis, James Laurence Balsillie, and Douglas E. Fregin on March 7, 1984 and is headquartered in Waterloo, Canada.
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