BlackBerry Limited (NYSE:BB – Get Free Report) 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.
Read Our Latest Stock Analysis on BB
Insider Buying and Selling
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 – Get Free Report) 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.
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