Investment Analysts’ Weekly Ratings Changes for BlackBerry (BB)

BlackBerry (NYSE: BB) recently received a number of ratings updates from brokerages and research firms:

• 6/28/2024 – BlackBerry had its price target lowered by analysts at Raymond James from $5.50 to $4.75. They now have a “market perform” rating on the stock.
• 6/27/2024 – BlackBerry was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating.
• 6/27/2024 – BlackBerry had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $3.00 price target on the stock.
• 6/27/2024 – BlackBerry was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating. They now have a $3.50 price target on the stock.
• 6/27/2024 – BlackBerry had its price target lowered by analysts at Robert W. Baird from $3.50 to $3.00. They now have a “neutral” rating on the stock.
• 6/27/2024 – BlackBerry had its price target lowered by analysts at TD Securities from $3.00 to $2.75. They now have a “hold” rating on the stock.
• 6/27/2024 – BlackBerry had its price target lowered by analysts at Canaccord Genuity Group Inc. from $3.25 to $2.70. They now have a “hold” rating on the stock.
• 6/27/2024 – BlackBerry had its price target lowered by analysts at Canaccord Genuity Group Inc. from $3.25 to $2.70. They now have a “hold” rating on the stock.

BlackBerry Stock Performance

Shares of NYSE:BB traded down $0.02 during midday trading on Tuesday, reaching $2.40. 2,121,812 shares of the company traded hands, compared to its average volume of 10,605,411. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -8.28 and a beta of 1.40. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $2.75 and its two-hundred day moving average price is $2.93. BlackBerry Limited has a 12 month low of $2.20 and a 12 month high of $5.75.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $144.00 million during the quarter, compared to analyst estimates of $132.05 million. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. BlackBerry’s revenue was down 61.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, equities analysts expect that BlackBerry Limited will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in shares of BlackBerry by 70.1% during the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock worth $119,657,000 after purchasing an additional 13,925,510 shares during the last quarter. FIFTHDELTA Ltd grew its stake in shares of BlackBerry by 2.3% during the 1st quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock valued at $86,940,000 after buying an additional 710,015 shares during the period. Vanguard Group Inc. lifted its holdings in shares of BlackBerry by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after acquiring an additional 149,444 shares in the last quarter. Norges Bank acquired a new position in BlackBerry in the 4th quarter worth $48,775,000. Finally, EdgePoint Investment Group Inc. raised its stake in shares of BlackBerry by 25.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock valued at $34,343,000 after purchasing an additional 2,536,966 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.