Analysts Set BlackBerry Limited (NYSE:BB) Price Target at $3.20

BlackBerry Limited (NYSE:BB) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $3.20.

BB has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday, June 27th. Robert W. Baird decreased their price objective on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. TD Securities dropped their target price on shares of BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research report on Thursday, June 27th. Raymond James reduced their price target on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a research report on Friday, June 28th. Finally, Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BB. EP Wealth Advisors LLC bought a new stake in shares of BlackBerry during the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new stake in shares of BlackBerry in the 2nd quarter worth $43,000. Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry in the second quarter worth $50,000. Finally, Marathon Trading Investment Management LLC bought a new position in shares of BlackBerry during the second quarter valued at $169,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Trading Down 4.3 %

Shares of BB opened at $2.33 on Friday. The stock has a market capitalization of $1.37 billion, a P/E ratio of -8.17 and a beta of 1.39. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.44. 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 has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.59.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative return on equity of 3.33% and a negative net margin of 21.66%. BlackBerry’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. On average, research analysts anticipate that BlackBerry will post -0.09 EPS for the current year.

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.