TD Securities Trims BlackBerry (NYSE:BB) Target Price to $2.75

BlackBerry (NYSE:BB) had its price target trimmed by TD Securities from $3.00 to $2.75 in a research report sent to investors on Thursday, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

BB has been the topic of several other research reports. Canaccord Genuity Group decreased their target price on BlackBerry from $3.25 to $2.70 and set a hold rating on the stock in a research report on Thursday. Royal Bank of Canada reiterated a sector perform rating and issued a $3.00 price target on shares of BlackBerry in a research note on Thursday. Robert W. Baird cut their price target on BlackBerry from $3.50 to $3.00 and set a neutral rating for the company in a research note on Thursday. CIBC upgraded BlackBerry from a neutral rating to a sector outperform rating and set a $3.50 price target for the company in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on BlackBerry from $3.25 to $2.70 and set a hold rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $3.20.

BlackBerry Price Performance

BlackBerry stock opened at $2.48 on Thursday. BlackBerry has a 12 month low of $2.20 and a 12 month high of $5.75. The stock’s 50 day moving average is $2.76 and its 200-day moving average is $2.94. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -8.55 and a beta of 1.37.

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

Institutional Investors Weigh In On BlackBerry

Several institutional investors and hedge funds have recently added to or reduced their stakes in BB. Highlander Capital Management LLC lifted its stake in BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares during the last quarter. Headlands Technologies LLC bought a new stake in BlackBerry during the fourth quarter worth $58,000. Oxford Asset Management LLP bought a new stake in BlackBerry during the fourth quarter worth $60,000. Private Advisor Group LLC lifted its stake in 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 last quarter. Finally, Breakwater Capital Group bought a new stake in BlackBerry during the fourth quarter worth $107,000. 54.48% of the stock is currently owned by institutional investors.

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.