BlackBerry Limited (NYSE:BB) Given Consensus Rating of “Moderate Buy” by Brokerages

BlackBerry Limited (NYSE:BB) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.69.

Several analysts recently commented on BB shares. TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Royal Bank of Canada raised their price objective on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, January 10th. Robert W. Baird raised their price objective on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Finally, TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a research note on Friday, December 20th.

Insiders Place Their Bets

In other news, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mattias Eriksson sold 12,680 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the transaction, the insider now owns 278,306 shares of the company’s stock, valued at $1,113,224. The trade was a 4.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 244,221 shares of company stock worth $925,655. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in shares of BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after acquiring an additional 3,811 shares in the last quarter. Invesco Ltd. grew its holdings in shares of BlackBerry by 3.8% in the 4th quarter. Invesco Ltd. now owns 115,116 shares of the company’s stock valued at $435,000 after acquiring an additional 4,226 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of BlackBerry by 6.6% in the 4th quarter. Advisory Services Network LLC now owns 70,829 shares of the company’s stock valued at $268,000 after acquiring an additional 4,375 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock valued at $38,000 after acquiring an additional 5,008 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in BlackBerry by 2.4% in the 4th quarter. National Bank of Canada FI now owns 254,032 shares of the company’s stock valued at $967,000 after purchasing an additional 5,870 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Performance

BB stock opened at $4.91 on Wednesday. The business’s fifty day moving average is $4.44 and its 200-day moving average is $3.15. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.92 billion, a P/E ratio of -22.30 and a beta of 1.31. BlackBerry has a twelve month low of $2.01 and a twelve month high of $6.24.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. Equities research analysts forecast that BlackBerry will post -0.03 EPS for the current year.

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.