BlackBerry (BBRY) Q1 Shows its 'Struggling' to Gain Traction - Nomura

June 28, 2013 8:47 AM EDT
Get Alerts BBRY Hot Sheet
Price: $7.20 -0.14%

Rating Summary:
    7 Buy, 39 Hold, 16 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
Trade BBRY Now!
Join SI Premium – FREE
Nomura Securities analyst Stuart Jeffrey offered a 'First Look' on BlackBerry (NASDAQ: BBRY) following Q1 results.

Jeffrey called the results "weak" and Q2 outlook "below expectations." The company also highlighted that competitive pressures make it difficult to estimate revenue and margin levels through the rest of the year.

"At first glance, it seems to us that, after a surprisingly strong fiscal Q4, BlackBerry is struggling with both limited traction for new devices (BB10) and sustained pressure on legacy devices (BB7)," the analyst said.

On the quarter, the firm notes excluding items, the company posted a loss of $0.03 versus the headline number of a $0.13 loss. This, however, still missed the consensus of a $0.04 profit.

The firm retained their negative bias on the stock and reiterated a Neutral price target of $10.00.

For an analyst ratings summary and ratings history on BlackBerry click here. For more ratings news on BlackBerry click here.

Shares of BlackBerry closed at $14.48 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities


Add Your Comment