BlackBerry Limited (NYSE:BB) Receives $3.69 Average PT from Analysts

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

Several equities research analysts have recently weighed in on BB shares. Royal Bank of Canada upped their target price on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research report on Friday, January 10th. CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird upped their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, TD Cowen raised BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th.

BlackBerry Price Performance

Shares of NYSE:BB opened at $5.07 on Friday. The company has a market cap of $3.00 billion, a P/E ratio of -23.02 and a beta of 1.31. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry has a 52 week low of $2.01 and a 52 week high of $5.09. The business has a fifty day simple moving average of $3.66 and a 200-day simple moving average of $2.83.

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

Insider Activity

In related news, insider Mattias Eriksson sold 14,475 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $53,268.00. Following the completion of the sale, the insider now directly owns 238,838 shares in the company, valued at approximately $878,923.84. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. Insiders sold 244,221 shares of company stock worth $925,655 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Several hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in BlackBerry by 83.3% during 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. Geode Capital Management LLC increased its position in BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after buying an additional 7,652 shares during the last quarter. 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 buying an additional 7,842 shares during the last quarter. CIBC Asset Management Inc increased its position in BlackBerry by 1.3% during the fourth quarter. CIBC Asset Management Inc now owns 709,720 shares of the company’s stock worth $2,690,000 after buying an additional 8,787 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after purchasing an additional 9,063 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

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.