BlackBerry Limited (NYSE:BB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of BlackBerry Limited (NYSE:BB) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.60.

BB has been the subject of several recent analyst reports. Royal Bank of Canada boosted 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. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Canaccord Genuity Group upped their target price on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. Robert W. Baird increased their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, CIBC lifted their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th.

Insider Activity at BlackBerry

In related news, insider Mattias Eriksson sold 14,475 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $53,268.00. Following the completion of the sale, the insider now directly owns 238,838 shares in the company, valued at approximately $878,923.84. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of BlackBerry stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,913 shares of company stock worth $643,741. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently bought and sold shares of BB. EdgePoint Investment Group Inc. increased its stake in BlackBerry by 15.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after purchasing an additional 1,637,916 shares in the last quarter. Millennium Management LLC grew its holdings in BlackBerry by 5,408.9% during the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after purchasing an additional 3,369,296 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of BlackBerry by 32.7% during the 2nd quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock worth $4,300,000 after acquiring an additional 427,083 shares during the last quarter. TD Asset Management Inc increased its stake in BlackBerry by 1.4% in the second quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock worth $3,740,000 after purchasing an additional 21,259 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in shares of BlackBerry by 25.7% in the third 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 period. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Stock Performance

Shares of NYSE:BB opened at $4.09 on Tuesday. The company’s 50 day moving average price is $2.86 and its two-hundred day moving average price is $2.56. The firm has a market cap of $2.42 billion, a PE ratio of -16.36 and a beta of 1.30. 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 has a 12-month low of $2.01 and a 12-month high of $4.11.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share 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 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%. BlackBerry’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. Equities research analysts predict that BlackBerry will post -0.06 earnings per share for the current year.

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.