BlackBerry (BBRY): Valuation Is Already Full - MKM

MKM Partners analyst, Michael Genovese, reiterated his Neutral rating on shares of BlackBerry (NASDAQ: BBRY) noting that lack of revenue growth and a high valuation offsets the appeal of the company's strong, software driven, gross margins.

Mobility Solutions GM improved to 44% from 26% in the prior quarter, and is up significantly from 8% two quarters ago. All three revenue segments contributed positive operating income, with sharp sequential improvements in Software & Services and Mobility Solutions operating margins. However, BBRY also missed the analyst's revenue estimates in all three segments.

No change to the price target of $8.

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 $7.50 yesterday.

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