BlackBerry Limited (NYSE:BB) stock ended December 04, 2018 with a fresh -4.86% decline. It was last seen at $8.41, claiming a stock-market value of $4.56B. The price went up as high as $8.86 but also was $8.37 at one point in the session. Trading activity significantly improved as the volume at ready counter increased to 4,333,165 shares versus 4,017,545 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,888,029 shares. The stock is now 2.19% above against its bear-market low of $8.23 on November 20, 2018. It has retreated -73.01% since it’s 52-week high of $14.55 reached in January. Now the market price is down -19.44% on the year and down -24.71% YTD.
BB’s 50 day simple moving average (SMA 50) price is $9.4 and its 200-day simple moving average (SMA 200) price is $10.62. The company’s stock currently has a total float of 536.96M shares. Its weekly volatility is hovering around 3.46% and felt 3.26% volatility in price over a month. On the upside, the share price will test short term resistance at around $8.72. On a downside, the stock is likely to find some support, which begins at $8.23. The failure to get near-term support could push it to $8.06.
Wall Street’s most bullish BlackBerry Limited (NYSE:BB) analysts are predicting the share price to blow past $14.5 per share during the next 12 months. The current median share price forecast by them is $11, suggesting that the stock could increase 30.8% in that time frame. The average price target of $11.57 calls for a nearly 37.57% increase in the stock price.
It had seen a change in price target from analysts at Macquarie, who reiterated the stock at Outperform on January 16 but moved PT from $14.50 to $15.50. Analysts at Imperial Capital, maintained the company shares at In-line on December 26 but switched target price from $10 to $11. Brokerage firm Imperial Capital, looks cautious as they stick to prior recommendation of In-line, in a call on December 22. However, they did change the target price from $10 to $11.
Moreover, it trades for 52.56 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.85x price/book and 5.17x price/sales. It’s also very liquid in the near term, with a current ratio of 6.4. The stock has a debt/capital of 0.3.
Shares of BlackBerry Limited (BB) have dropped -13.2% since the company’s Feb-18 earnings report. Over the past 11 fiscal quarters, BlackBerry Limited (NYSE:BB) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 0 quarters (0%), whereas at 0 occasion EPS met analyst expectations. BB last reported earnings on September 28, 2018 when it released Aug-18 results that exceeded expectations. The company raked in $0.04 per share, -99.99% change on the same period last year. That was better than consensus for $0.01. Revenue for the recent quarter stood at $214 million, down -14% on last year and above the $207.56 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $207.1 million to $233 million, which should be compared with $0 generated last year.