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 report published on Thursday, Zacks.com reports.

BlackBerry Stock Up 1.8 %

TSE:BB opened at C$3.42 on Thursday. The company has a quick ratio of 1.49, a current ratio of 1.43 and a debt-to-equity ratio of 32.47. The stock’s fifty day moving average is C$3.77 and its two-hundred day moving average is C$4.00. BlackBerry has a 52 week low of C$3.02 and a 52 week high of C$7.82. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -11.40, a price-to-earnings-growth ratio of 0.06 and a beta of 1.08.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last released its quarterly earnings results on Wednesday, April 3rd. The company reported C$0.03 EPS for the quarter, topping analysts’ consensus estimates of C($0.07) by C$0.10. BlackBerry had a negative return on equity of 15.92% and a negative net margin of 15.24%. The company had revenue of C$232.61 million for the quarter. Research analysts anticipate that BlackBerry will post 0.0273766 EPS 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.