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

Shares of BlackBerry Limited (NYSE:BB) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $3.23.

Several research analysts recently issued reports on the stock. CIBC upped their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a report on Friday, September 27th. Finally, StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday.

BlackBerry Stock Down 0.7 %

Shares of BB stock opened at $2.76 on Friday. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.44. The stock’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.45. 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 company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -11.04 and a beta of 1.43.

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

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction 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 transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Hedge funds have recently added to or reduced their stakes in the company. Intact Investment Management Inc. grew its position in BlackBerry by 25.7% in the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of BlackBerry during the third quarter valued at approximately $1,285,000. Cubist Systematic Strategies LLC lifted its holdings in BlackBerry by 815.6% during the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after acquiring an additional 488,934 shares during the period. Virtu Financial LLC increased its position in shares of BlackBerry by 911.4% during the 2nd quarter. Virtu Financial LLC now owns 371,166 shares of the company’s stock valued at $920,000 after purchasing an additional 334,466 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after purchasing an additional 7,842 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.