BlackBerry (TSE:BB) Shares Up 19.9% – Still a Buy?

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s stock price shot up 19.9% on Thursday . The stock traded as high as C$15.16 and last traded at C$14.70. Approximately 6,745,398 shares changed hands during trading, an increase of 83% from the average daily volume of 3,682,519 shares. The stock had previously closed at C$12.26.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus set a C$12.00 target price on shares of BlackBerry and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$12.00.

BlackBerry Price Performance

The stock has a market cap of C$8.77 billion, a PE ratio of 166.33, a P/E/G ratio of 0.06 and a beta of 1.19. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.49 and a current ratio of 2.12. The business has a 50 day moving average price of C$10.04 and a two-hundred day moving average price of C$6.80.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last issued its quarterly earnings results on Thursday, June 25th. The company reported C$0.06 EPS for the quarter. BlackBerry had a return on equity of 7.27% and a net margin of 9.70%.The business had revenue of C$210.94 million for the quarter. Research analysts expect that BlackBerry Limited will post 0.0551903 earnings per share for the current fiscal year.

About BlackBerry

BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.