BlackBerry (NYSE:BB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a buy rating in a research note released on Sunday.

Several other research firms have also commented on BB. Canaccord Genuity Group dropped their target price on BlackBerry from $4.75 to $4.25 and set a “hold” rating on the stock in a report on Thursday, April 3rd. CIBC decreased their target price on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 3rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $3.75 target price on shares of BlackBerry in a research note on Friday, June 20th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.12.

BlackBerry Stock Up 0.3%

Shares of NYSE BB opened at $4.34 on Friday. The stock has a 50 day moving average price of $3.83 and a 200 day moving average price of $4.03. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -33.35 and a beta of 1.45. BlackBerry has a 52-week low of $2.01 and a 52-week high of $6.24.

BlackBerry (NYSE:BB) last released its earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $137.56 million. BlackBerry had a negative return on equity of 1.78% and a negative net margin of 13.84%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Sell-side analysts expect that BlackBerry will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the transaction, the senior vice president now owns 42,398 shares in the company, valued at approximately $126,770.02. This represents a 41.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 37,216 shares of company stock valued at $112,025 over the last three months. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BB. Parallel Advisors LLC boosted its stake in BlackBerry by 216.2% during the first quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock worth $27,000 after acquiring an additional 4,893 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock worth $37,000 after purchasing an additional 3,811 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in BlackBerry in the 1st quarter worth about $37,000. Mindset Wealth Management LLC bought a new position in BlackBerry in the 4th quarter worth about $38,000. Finally, Quadrant Capital Group LLC boosted its stake in BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,008 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

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.