CIBC Raises BlackBerry (NYSE:BB) Price Target to $3.60

BlackBerry (NYSE:BB) had its target price increased by CIBC from $3.50 to $3.60 in a research note published on Thursday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

BB has been the topic of several other research reports. Canaccord Genuity Group cut their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. TD Securities cut their target price on BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Raymond James lowered their price target on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research report on Friday, June 28th. Robert W. Baird cut their price objective on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.23.

BlackBerry Stock Down 0.8 %

BB stock opened at $2.56 on Thursday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -10.24 and a beta of 1.40. BlackBerry has a 1-year low of $2.01 and a 1-year high of $4.44. The firm has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $2.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $138.82 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts predict that BlackBerry will post -0.06 EPS for the current year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of BlackBerry

Several institutional investors have recently modified their holdings of BB. EP Wealth Advisors LLC acquired a new position in BlackBerry during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $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 approximately $43,000. Viewpoint Capital Management LLC acquired a new stake in BlackBerry during the second quarter valued at approximately $50,000. Finally, Creative Planning boosted its holdings in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after buying an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.