BlackBerry Limited (NYSE:BB) Receives Average Rating of “Hold” from Analysts

Shares of BlackBerry Limited (NYSE:BB) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com 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 target price among analysts that have updated their coverage on the stock in the last year is $3.23.

BB has been the subject of a number of research reports. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th. Finally, CIBC raised their price objective 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.

BlackBerry Stock Performance

NYSE:BB opened at $2.33 on Thursday. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week 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. The company has a 50 day moving average price of $2.42 and a 200 day moving average price of $2.54. The stock has a market capitalization of $1.38 billion, a P/E ratio of -8.07 and a beta of 1.40.

BlackBerry (NYSE:BB) last posted its quarterly 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 for 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%. BlackBerry’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. Equities research analysts forecast that BlackBerry will post -0.06 EPS for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now directly owns 30,129 shares of the company’s stock, valued at $76,226.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Institutional Trading of BlackBerry

A number of hedge funds and other institutional investors have recently modified their holdings of BB. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry in the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of BlackBerry by 83.3% in 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 during the last quarter. Werba Rubin Papier Wealth Management acquired a new stake in shares of BlackBerry in the second quarter valued at about $43,000. Viewpoint Capital Management LLC acquired a new stake in BlackBerry in the 2nd quarter valued at approximately $50,000. Finally, International Assets Investment Management LLC increased its position in BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after acquiring an additional 7,842 shares during the period. Institutional investors 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.