BlackBerry Limited (NYSE:BB) Receives Average Recommendation of “Moderate Buy” from Analysts

BlackBerry Limited (NYSE:BB) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.69.

A number of equities research analysts recently weighed in on BB shares. Robert W. Baird lifted 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. Canaccord Genuity Group lifted their target price on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada lifted their price objective on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th.

Insider Transactions at BlackBerry

In other news, CEO John Joseph Giamatteo sold 155,815 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 $573,399.20. Following the transaction, the chief executive officer now directly owns 385,552 shares of the company’s stock, valued at $1,418,831.36. The trade was a 28.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now directly owns 238,838 shares in the company, valued at $878,923.84. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock valued at $925,655 in the last three months. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its position in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock worth $37,000 after purchasing an additional 3,811 shares during the last quarter. Invesco Ltd. raised its position in BlackBerry by 3.8% in the 4th quarter. Invesco Ltd. now owns 115,116 shares of the company’s stock worth $435,000 after purchasing an additional 4,226 shares during the last quarter. Advisory Services Network LLC raised its position in BlackBerry by 6.6% in the 4th quarter. Advisory Services Network LLC now owns 70,829 shares of the company’s stock worth $268,000 after purchasing an additional 4,375 shares during the last quarter. Quadrant Capital Group LLC raised its position in BlackBerry by 100.3% in the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,008 shares during the last quarter. Finally, National Bank of Canada FI raised its position in BlackBerry by 2.4% in the 4th quarter. National Bank of Canada FI now owns 254,032 shares of the company’s stock worth $967,000 after purchasing an additional 5,870 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

BlackBerry Price Performance

NYSE BB opened at $4.91 on Wednesday. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The stock’s 50-day moving average is $4.44 and its two-hundred day moving average is $3.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $2.92 billion, a P/E ratio of -22.30 and a beta of 1.31.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same period last year, the company earned $0.01 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. On average, analysts anticipate that BlackBerry will post -0.03 earnings per share for the current fiscal 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.