BlackBerry Limited (NYSE:BB) Receives Consensus Recommendation of “Hold” from Analysts

BlackBerry Limited (NYSE:BB) has been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.20.

A number of analysts have commented on the stock. Robert W. Baird lowered their target price on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Raymond James reduced their target price on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research note on Friday. Canaccord Genuity Group dropped their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. Finally, TD Securities cut their price target on shares of BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research note on Thursday, June 27th.

BlackBerry Trading Down 0.8 %

Shares of BlackBerry stock opened at $2.52 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of -8.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.90. The company’s fifty day moving average price is $2.35 and its two-hundred day moving average price is $2.60.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts expect that BlackBerry will post -0.09 EPS for the current year.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC acquired a new stake in BlackBerry during the 2nd quarter worth about $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares in the last quarter. Werba Rubin Papier Wealth Management purchased a new stake in shares of BlackBerry in the second quarter valued at about $43,000. Viewpoint Capital Management LLC purchased a new stake in BlackBerry in the 2nd quarter valued at about $50,000. Finally, Marathon Trading Investment Management LLC bought a new stake in BlackBerry during the second quarter worth $169,000. Institutional investors and hedge funds 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.