Analysts’ Weekly Ratings Updates for BlackBerry (BB)

A number of firms have modified their ratings and price targets on shares of BlackBerry (NYSE: BB) recently:

• 12/20/2024 – BlackBerry had its price target raised by analysts at Robert W. Baird from $3.00 to $3.50. They now have a “neutral” rating on the stock.
• 12/20/2024 – BlackBerry had its price target raised by analysts at Canaccord Genuity Group Inc. from $2.80 to $3.00. They now have a “hold” rating on the stock.
• 12/20/2024 – BlackBerry was upgraded by analysts at TD Cowen from a “hold” rating to a “buy” rating. They now have a $4.00 price target on the stock, up previously from $3.25.
• 12/20/2024 – BlackBerry was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating. They now have a $4.00 price target on the stock, up previously from $3.25.
• 12/18/2024 – BlackBerry had its price target raised by analysts at TD Securities from $2.75 to $3.25. They now have a “hold” rating on the stock.
• 12/17/2024 – BlackBerry had its price target raised by analysts at Royal Bank of Canada from $3.00 to $3.25. They now have a “sector perform” rating on the stock.
• 12/9/2024 – BlackBerry was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 12/3/2024 – BlackBerry was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/20/2024 – BlackBerry was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/13/2024 – BlackBerry was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

BlackBerry Trading Down 0.5 %

NYSE:BB opened at $4.07 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. BlackBerry Limited has a 1 year low of $2.01 and a 1 year high of $4.35. The stock has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $2.57. The stock has a market cap of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30.

BlackBerry (NYSE:BB) last announced 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 firm had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, analysts anticipate that BlackBerry Limited will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mattias Eriksson sold 14,475 shares of the firm’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 of the company’s stock, valued at $878,923.84. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction 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 in the company, valued at $1,418,831.36. This represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,913 shares of company stock worth $643,741 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position 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 acquiring an additional 5,349 shares during the last quarter. Geode Capital Management LLC raised its position in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after purchasing an additional 7,652 shares during the last quarter. International Assets Investment Management LLC lifted its stake in BlackBerry by 60.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after buying an additional 7,842 shares in the last quarter. Signaturefd LLC grew its holdings in BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after buying an additional 9,063 shares during the last quarter. Finally, Creative Planning increased its position in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock worth $96,000 after buying an additional 10,585 shares in the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

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.