BlackBerry Earnings Beat Leads To A Downgrade To 'Hold' From Vetr

The Vetr crowd on Friday downgraded its rating on BlackBerry Limited BBRY from the stock's previous standing at 4 stars (Buy), issued four days ago, to 3 stars (Hold). Crowd sentiment at the time of the downgrade was split, with 50 percent of Vetr user ratings bullish.

The Vetr downgrade comes a day after the communications technology company delivered a second quarter revenue beat of $249 million, more than 12.5 percent higher than analyst estimates. Share prices in BlackBerry subsequently spiked 13.5 percent and continued up within striking distance of the 2017 high of $11.39. BlackBerry finished Friday's trading session somewhat lower at $11.18.

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Currently, the Vetr crowd's average price target on BlackBerry is down at $10.20, which is still above the average analyst price target of $8.66. Less than 2 percent of Vetr users are holding BBRY in their watchlists.