TD Securities Lowers BlackBerry (NYSE:BB) Price Target to $2.75

BlackBerry (NYSE:BB) had its target price decreased by investment analysts at TD Securities from $3.00 to $2.75 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price objective would indicate a potential upside of 10.22% from the company’s current price.

A number of other research analysts have also recently commented on BB. CIBC upgraded BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price target on the stock in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research report on Thursday. Robert W. Baird decreased their price target on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday. Canaccord Genuity Group decreased their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group decreased their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, BlackBerry presently has an average rating of “Hold” and a consensus price target of $3.20.

BlackBerry Stock Up 1.8 %

BB opened at $2.50 on Thursday. BlackBerry has a fifty-two week low of $2.20 and a fifty-two week high of $5.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $1.47 billion, a P/E ratio of -8.60 and a beta of 1.37. The stock has a fifty day moving average of $2.76 and a 200-day moving average of $2.96.

BlackBerry (NYSE:BB) last posted its earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.30% and a negative net margin of 25.80%. The company had revenue of $144.00 million during the quarter, compared to the consensus estimate of $132.05 million. During the same quarter last year, the firm earned $0.04 earnings per share. The company’s revenue was down 61.4% on a year-over-year basis. On average, equities analysts expect that BlackBerry will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Highlander Capital Management LLC grew its holdings in shares of BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of BlackBerry during the fourth quarter worth about $58,000. Oxford Asset Management LLP acquired a new position in shares of BlackBerry in the fourth quarter worth approximately $60,000. Private Advisor Group LLC lifted its stake in shares of BlackBerry by 28.4% in the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock worth $90,000 after acquiring an additional 5,645 shares during the period. Finally, Breakwater Capital Group acquired a new position in shares of BlackBerry in the fourth quarter worth approximately $107,000. 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.