BlackBerry Limited (NYSE:BB) Receives Average Rating of “Hold” from Brokerages

Shares of BlackBerry Limited (NYSE:BB) have received an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.34.

A number of equities analysts have weighed in on BB shares. TD Securities upped their price target on shares of BlackBerry from $2.75 to $3.25 and gave the stock a “hold” rating in a research report on Wednesday. CIBC upped their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Canaccord Genuity Group raised their price target on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada upped their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th.

BlackBerry Price Performance

Shares of BlackBerry stock opened at $2.98 on Friday. The stock has a market cap of $1.76 billion, a P/E ratio of -11.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day moving average is $2.53 and its 200 day moving average is $2.45. BlackBerry has a one year low of $2.01 and a one year high of $4.27.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. Sell-side analysts anticipate that BlackBerry will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The shares were 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. This trade represents a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by company insiders.

Institutional Trading of BlackBerry

Several hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. increased its position in shares of BlackBerry by 25.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after purchasing an additional 294,250 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in BlackBerry during the third quarter valued at $1,285,000. BNP Paribas Financial Markets increased its position in BlackBerry by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock valued at $428,000 after acquiring an additional 11,488 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after acquiring an additional 488,934 shares during the period. Finally, Virtu Financial LLC lifted its holdings in shares of BlackBerry by 911.4% in the 2nd quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock worth $920,000 after acquiring an additional 334,466 shares during the last quarter. 54.48% of the stock is currently owned by hedge funds and other 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.