BlackBerry (NYSE:BB) Price Target Raised to $3.25 at Royal Bank of Canada

BlackBerry (NYSE:BB) had its price target upped by Royal Bank of Canada from $3.00 to $3.25 in a research note published on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also weighed in on BB. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, CIBC boosted their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.26.

BlackBerry Stock Up 3.6 %

BB stock opened at $3.20 on Tuesday. The stock has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $2.44. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.36. The firm has a market capitalization of $1.89 billion, a PE ratio of -12.80 and a beta of 1.43. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. BlackBerry’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts predict that BlackBerry will post -0.06 EPS for the current fiscal year.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction dated 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 sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This represents a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of BlackBerry

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares during the period. Geode Capital Management LLC grew its holdings in BlackBerry by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after acquiring an additional 7,652 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after acquiring an additional 7,842 shares during the period. Signaturefd LLC raised its stake in shares of BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after purchasing an additional 9,156 shares during the period. 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.