Brokerages Set BlackBerry Limited (NYSE:BB) Price Target at $4.12

BlackBerry Limited (NYSE:BB) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.12.

BB has been the subject of several research reports. CIBC dropped their price objective on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price target on BlackBerry in a report on Thursday, April 3rd. Canaccord Genuity Group reduced their price objective on BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a report on Friday, April 11th.

BlackBerry Trading Up 3.8 %

Shares of NYSE:BB opened at $3.29 on Thursday. 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 $6.24. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -14.95 and a beta of 1.30. The business has a 50-day moving average price of $4.14 and a 200-day moving average price of $3.57.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. During the same period last year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. Equities analysts predict that BlackBerry will post -0.03 EPS for the current year.

Insiders Place Their Bets

In other BlackBerry news, CAO Jay P. Chai sold 24,425 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares in the company, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,641 shares of company stock worth $214,365. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in shares of BlackBerry by 216.2% in the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock worth $27,000 after acquiring an additional 4,893 shares during the period. Tower Research Capital LLC TRC grew its holdings in 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 last quarter. Quantinno Capital Management LP purchased a new position in shares of BlackBerry in the third quarter valued at $38,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of BlackBerry during the 4th quarter worth $38,000. Finally, Mindset Wealth Management LLC acquired a new position in shares of BlackBerry during the 4th quarter worth $38,000. 54.48% of the stock is currently 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.