BlackBerry (NYSE:BB) Price Target Raised to $3.25

BlackBerry (NYSE:BB) had its price objective lifted by Royal Bank of Canada from $3.00 to $3.25 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

BB has been the topic of a number of other reports. CIBC boosted their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company 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 report on Monday, December 9th. Finally, Canaccord Genuity Group increased their price objective on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.34.

BlackBerry Price Performance

Shares of NYSE BB opened at $2.98 on Tuesday. The company has a market capitalization of $1.76 billion, a PE ratio of -11.92 and a beta of 1.43. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $2.53 and its 200-day moving average price is $2.45. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.27.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. On average, equities 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 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 completion of the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in BlackBerry by 60.2% during the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after acquiring an additional 93,651 shares in the last quarter. Toronto Dominion Bank boosted its holdings in BlackBerry by 5.3% in the 3rd quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after purchasing an additional 36,372 shares during the period. Geode Capital Management LLC grew its position in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after purchasing an additional 7,652 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of BlackBerry in the third quarter worth $410,000. Finally, Orion Portfolio Solutions LLC raised its position in shares of BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock worth $99,000 after buying an additional 20,771 shares in the last quarter. 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.