BlackBerry (NYSE:BB) Stock Price Expected to Rise, Robert W. Baird Analyst Says

BlackBerry (NYSE:BB) had its price objective boosted by Robert W. Baird from $3.00 to $3.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential downside of 5.15% from the stock’s current price.

BB has been the topic of a number of other research reports. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. CIBC boosted their price target on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group raised their price objective on 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 lifted their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a report on Tuesday, December 17th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the company from $3.25 to $4.00 in a research note on Friday. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.60.

BlackBerry Stock Up 23.8 %

Shares of NYSE BB opened at $3.69 on Friday. The stock has a fifty day moving average price of $2.56 and a 200 day moving average price of $2.46. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry has a 12-month low of $2.01 and a 12-month high of $3.89. The company has a market cap of $2.18 billion, a P/E ratio of -14.76 and a beta of 1.43.

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

Insider Activity

In other news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction dated 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 directly owns 30,129 shares in the company, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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. Geode Capital Management LLC boosted its position in BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after purchasing an additional 7,652 shares during the period. International Assets Investment Management LLC grew its stake in 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 buying an additional 7,842 shares during the last quarter. Signaturefd LLC increased its position in BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after buying an additional 9,156 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.