BlackBerry (NYSE:BB) Price Target Raised to $3.50

BlackBerry (NYSE:BB) had its price objective raised by Robert W. Baird from $3.00 to $3.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the company. Royal Bank of Canada upped their price objective on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday, December 17th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. CIBC upped their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their price target on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a report on Friday. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BlackBerry currently has a consensus rating of “Moderate Buy” and an average target price of $3.60.

BlackBerry Trading Up 23.8 %

Shares of BlackBerry stock opened at $3.69 on Friday. 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 has a 52 week low of $2.01 and a 52 week high of $3.89. The stock has a market capitalization of $2.18 billion, a PE ratio of -14.76 and a beta of 1.43. The stock has a 50 day moving average price of $2.56 and a two-hundred day moving average price of $2.45.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same quarter in the prior year, the business posted $0.01 EPS. The business’s revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts anticipate that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry 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 sale, the insider now directly owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackBerry

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of BlackBerry by 60.2% during the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after acquiring an additional 93,651 shares in the last quarter. Toronto Dominion Bank raised its holdings in BlackBerry by 5.3% in the third quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock worth $1,882,000 after buying an additional 36,372 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of BlackBerry by 2.9% in the third 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 period. Public Employees Retirement System of Ohio bought a new position in BlackBerry during the third quarter valued at approximately $410,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock worth $99,000 after purchasing an additional 20,771 shares during the last quarter. 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.