BlackBerry’s (BB) Sector Perform Rating Reaffirmed at Royal Bank of Canada

BlackBerry (NYSE:BB)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $3.00 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 17.88% from the company’s current price.

BB has been the topic of a number of other research reports. CIBC upgraded shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price objective on the stock in a research note on Thursday, June 27th. TD Securities dropped their target price on BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research report on Thursday, June 27th. Canaccord Genuity Group reduced their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research note on Thursday, June 27th. Canaccord Genuity Group cut their price target on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. Finally, Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.20.

BlackBerry Trading Up 6.5 %

Shares of BB stock opened at $2.55 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $1.50 billion, a P/E ratio of -8.78 and a beta of 1.39. BlackBerry has a 1-year low of $2.01 and a 1-year high of $4.94. The firm’s 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.60.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $145.00 million during the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. As a group, equities analysts forecast that BlackBerry will post -0.09 EPS for the current year.

Institutional Trading of BlackBerry

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC bought a new position in BlackBerry during the 2nd quarter worth $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares during the period. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry during the second quarter worth about $43,000. Viewpoint Capital Management LLC bought a new position in shares of BlackBerry during the second quarter worth about $50,000. Finally, Marathon Trading Investment Management LLC bought a new stake in BlackBerry in the 2nd quarter valued at about $169,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.