BlackBerry Limited (NYSE:BB) Given Average Rating of “Hold” by Brokerages

BlackBerry Limited (NYSE:BB) has been assigned an average rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.23.

A number of equities analysts have recently weighed in on the stock. CIBC upped their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group upped their price target on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research note on Friday, September 27th. Finally, StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

BlackBerry Trading Up 1.3 %

BB opened at $2.35 on Monday. The stock has a fifty day moving average of $2.41 and a 200-day moving average of $2.48. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB) last released its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. As a group, research analysts predict that BlackBerry will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently made changes to their positions in BB. EP Wealth Advisors LLC bought a new stake in shares of BlackBerry in the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of BlackBerry during the third quarter worth approximately $38,000. Werba Rubin Papier Wealth Management acquired a new stake in shares of BlackBerry during the second quarter worth approximately $43,000. Finally, Viewpoint Capital Management LLC acquired a new stake in shares of BlackBerry during the second quarter worth approximately $50,000. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

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.