BlackBerry Limited (NYSE:BB) Receives Average Recommendation of “Hold” from Brokerages

Shares of BlackBerry Limited (NYSE:BB) have been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $3.23.

A number of analysts have recently issued reports on BB shares. CIBC lifted their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday. Canaccord Genuity Group increased their price objective on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research report on Friday, September 27th.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares of the company’s stock, valued at $76,226.37. This represents a 33.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackBerry

Several hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position 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 purchasing an additional 5,349 shares in the last quarter. Geode Capital Management LLC lifted its position in BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after buying an additional 7,652 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of BlackBerry by 60.7% during 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 position in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BlackBerry by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after acquiring an additional 9,156 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Trading Down 0.7 %

Shares of BB opened at $2.76 on Friday. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $4.44. The business has a 50-day moving average of $2.47 and a 200 day moving average of $2.45. The firm has a market cap of $1.63 billion, a P/E ratio of -11.04 and a beta of 1.43. 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 (NYSE:BB) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. As a group, research analysts forecast that BlackBerry will post -0.06 EPS for the current year.

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.