BlackBerry's QNX operating system for connected cars has a market share of about 47%, as Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), and Audi all utilize it. Zacks Investment Research lowered BlackBerry from a buy rating to a hold rating in a report on Tuesday, March 21st.
Additionally, Chen reported on March 31 that, "Giuliani Partners selected BlackBerry Secure as the underlying software platform to support its consulting practice for government enterprise customers". BlackBerry Ltd (NASDAQ:BBRY)'s highest estimates of price target are $10 and low forecast is $6 based on the opinion of 17 analysts. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The price target estimates represents a standard deviation of 1.60.
BlackBerry (NASDAQ:BBRY) traded down 2.19% during mid-day trading on Friday, hitting $7.58. BBRY stock gained 11.5% in Friday's session to close at $7.75 and is likely to continue the positive momentum.
The stock's price switched up 10.94% 20-Days Simple Moving Average, added 9.68% from 50-Days Simple Moving Average and rose 6.51% from 200 Days Simple Moving Average. According to these analysts, the Low Revenue Estimate for BlackBerry Limited is 271.63 Million and the High Revenue Estimate is 315 Million.
BlackBerry Limited's (BBRY), a stock from Diversified Communication Services Industry, is value at $7.75 per share with last change of 11.51%. The Return on Investment (ROI) is at -3.3% while it's Return on Equity (ROE) value stands at -55.6%. Credit Suisse Group AG reiterated an "underperform" rating and issued a $6.00 target price on shares of BlackBerry in a report on Wednesday, December 7th.
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BlackBerry - already a largely software-based company - is aiming to grab a larger portion of the automobile market as the connected auto market progresses, the Canadian company's fourth-quarter fiscal 2017 results show.
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Several large investors have recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in BlackBerry by 12.0% in the third quarter. Norges Bank purchased a new stake in BlackBerry during the fourth quarter worth approximately $24,556,000.
Stock is now moving with a positive distance from the 200 day simple moving average of approximately 6.51%, and has a solid year to date (YTD) performance of 13.21% which means the stock is constantly adding to its value from the previous fiscal year end price.