BlackBerry Limited (NYSE:BB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of BlackBerry Limited (NYSE:BB) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.69.

A number of brokerages have commented on BB. Royal Bank of Canada increased their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, January 10th. Robert W. Baird lifted their price target on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. TD Cowen upgraded BlackBerry from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. CIBC boosted their target price on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and increased their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th.

BlackBerry Trading Up 0.3 %

BB opened at $4.43 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.62 billion, a P/E ratio of -20.11 and a beta of 1.30. BlackBerry has a 52 week low of $2.01 and a 52 week high of $4.54. The business has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $2.78.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 net margin of 21.16% and a negative return on equity of 2.02%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. On average, equities analysts expect that BlackBerry will post -0.03 earnings per share for the current year.

Insider Transactions at BlackBerry

In related news, insider Mattias Eriksson sold 12,680 shares of BlackBerry stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the transaction, the insider now directly owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 244,221 shares of company stock valued at $925,655. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Several hedge funds have recently bought and sold shares of BB. EdgePoint Investment Group Inc. raised its position in shares of BlackBerry by 15.9% in the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock valued at $31,238,000 after buying an additional 1,637,916 shares during the last quarter. Millennium Management LLC raised its holdings in BlackBerry by 5,408.9% in the 2nd quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after acquiring an additional 3,369,296 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of BlackBerry by 25.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after purchasing an additional 294,250 shares during the period. State Street Corp boosted its holdings in shares of BlackBerry by 1.9% during the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock worth $3,431,000 after purchasing an additional 24,309 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of BlackBerry by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock valued at $3,194,000 after purchasing an additional 11,899 shares during the period. Hedge funds and other institutional investors 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.