BlackBerry Limited (NYSE:BB) Receives $3.23 Average PT from Brokerages

Shares of BlackBerry Limited (NYSE:BB) have received a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $3.34.

Several equities research analysts recently weighed in on the company. TD Securities lifted their price target on BlackBerry from $2.75 to $3.25 and gave the company a “hold” rating in a research report on Wednesday. CIBC increased 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. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Canaccord Genuity Group upped their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada lifted their target price on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a report on Tuesday.

BlackBerry Stock Down 1.0 %

Shares of BlackBerry stock opened at $2.98 on Friday. The company’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $2.45. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.27. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.76 billion, a P/E ratio of -11.92 and a beta of 1.43.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. BlackBerry’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. Research analysts anticipate that BlackBerry will post -0.06 EPS for the current year.

Insider Activity at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the business’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 completion of the transaction, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Trading of BlackBerry

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in BlackBerry by 36.2% in the 2nd quarter. SG Americas Securities LLC now owns 130,114 shares of the company’s stock worth $323,000 after purchasing an additional 34,615 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after acquiring an additional 9,156 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in BlackBerry by 39.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,315,157 shares of the company’s stock valued at $3,262,000 after acquiring an additional 369,283 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in BlackBerry by 508.1% in the second quarter. Intact Investment Management Inc. now owns 1,144,990 shares of the company’s stock valued at $2,862,000 after acquiring an additional 956,690 shares during the period. Finally, Viewpoint Capital Management LLC purchased a new position in BlackBerry in the second quarter worth about $50,000. 54.48% of the stock is currently owned by institutional investors.

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.