Raymond James Trims BlackBerry (NYSE:BB) Target Price to $4.75

BlackBerry (NYSE:BB) had its price objective decreased by Raymond James from $5.50 to $4.75 in a research report sent to investors on Friday, Marketbeat.com reports. Raymond James currently has a market perform rating on the stock.

BB has been the topic of several other reports. TD Securities lowered their price target on shares of BlackBerry from $3.00 to $2.75 and set a hold rating on the stock in a report on Thursday. CIBC raised shares of BlackBerry from a neutral rating to a sector outperform rating and set a $3.50 target price on the stock in a report on Thursday. Canaccord Genuity Group lowered their target price on shares of BlackBerry from $3.25 to $2.70 and set a hold rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed a sector perform rating and set a $3.00 target price on shares of BlackBerry in a report on Thursday. Finally, Canaccord Genuity Group lowered their target price on shares of BlackBerry from $3.25 to $2.70 and set a hold rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $3.20.

BlackBerry Trading Up 1.2 %

Shares of NYSE:BB opened at $2.48 on Friday. BlackBerry has a 52-week low of $2.20 and a 52-week high of $5.75. The company has a market capitalization of $1.46 billion, a P/E ratio of -8.55 and a beta of 1.37. The company has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $2.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $144.00 million during the quarter, compared to the consensus estimate of $132.05 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.30%. BlackBerry’s revenue was down 61.4% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. Sell-side analysts forecast that BlackBerry will post -0.09 earnings per share for the current year.

Institutional Trading of BlackBerry

Hedge funds have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC boosted its position in BlackBerry by 77.8% in the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after buying an additional 3,500 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of BlackBerry during the fourth quarter worth $58,000. Oxford Asset Management LLP acquired a new position in shares of BlackBerry during the fourth quarter worth $60,000. Private Advisor Group LLC lifted its holdings in shares of BlackBerry by 28.4% during the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock worth $90,000 after purchasing an additional 5,645 shares during the period. Finally, Breakwater Capital Group acquired a new position in BlackBerry in the fourth quarter valued at $107,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.