BlackBerry (NYSE:BB) Raised to Hold at StockNews.com

BlackBerry (NYSE:BB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

BB has been the topic of a number of other reports. Canaccord Genuity Group upped their target price on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a report on Friday, September 27th. Finally, CIBC increased their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BlackBerry has an average rating of “Hold” and an average target price of $3.23.

BlackBerry Stock Up 0.4 %

Shares of NYSE:BB opened at $2.59 on Monday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -10.36 and a beta of 1.43. The company has a 50 day moving average of $2.44 and a two-hundred day moving average of $2.44. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.44. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last released its quarterly 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 firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, analysts forecast that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction that occurred on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This represents a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC bought a new position in shares of BlackBerry during the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in BlackBerry by 83.3% during the second 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. Quantinno Capital Management LP bought a new stake in BlackBerry during the third quarter worth approximately $38,000. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry in the second quarter worth approximately $43,000. Finally, Viewpoint Capital Management LLC bought a new position in shares of BlackBerry in the second quarter valued at $50,000. Institutional investors 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.