BlackBerry Limited (NYSE:BB) Receives $4.60 Consensus PT from Brokerages

Shares of BlackBerry Limited (NYSE:BB) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $4.60.

A number of analysts have recently issued reports on BB shares. Canaccord Genuity Group raised their target price on shares of BlackBerry from $4.25 to $4.60 and gave the stock a “hold” rating in a research note on Tuesday, June 24th. Wall Street Zen lowered BlackBerry from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird upped their price objective on shares of BlackBerry from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 25th. CIBC reiterated an “outperform” rating on shares of BlackBerry in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada boosted their price target on BlackBerry from $3.75 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, June 20th.

BlackBerry Trading Up 1.7%

BlackBerry stock opened at $4.30 on Tuesday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -71.67 and a beta of 1.47. The firm has a 50-day moving average of $4.01 and a 200-day moving average of $4.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10. BlackBerry has a one year low of $2.01 and a one year high of $6.24.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $121.26 million for the quarter, compared to analyst estimates of $112.18 million. BlackBerry had a negative net margin of 6.44% and a positive return on equity of 2.29%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. On average, equities analysts expect that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Philip S. Kurtz sold 16,217 shares of BlackBerry stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $5.25, for a total value of $85,139.25. Following the completion of the sale, the insider owned 57,503 shares of the company’s stock, valued at approximately $301,890.75. This trade represents a 22.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Joseph Giamatteo sold 26,998 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total transaction of $116,631.36. Following the completion of the transaction, the chief executive officer directly owned 530,135 shares in the company, valued at $2,290,183.20. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,417 shares of company stock worth $267,524. 0.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackBerry

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in shares of BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock worth $27,000 after purchasing an additional 4,893 shares during the period. Tower Research Capital LLC TRC raised its position in shares of BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after purchasing an additional 3,811 shares during the period. Mindset Wealth Management LLC purchased a new stake in shares of BlackBerry during the 4th quarter valued at approximately $38,000. Quadrant Capital Group LLC lifted its position in shares of BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after acquiring an additional 5,008 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of BlackBerry in the first quarter worth $37,000. 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.