BlackBerry Limited (NYSE:BB) Receives $3.60 Consensus Price Target from Analysts

BlackBerry Limited (NYSE:BB) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $3.60.

Several research firms have issued reports on BB. CIBC boosted their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the company from $3.25 to $4.00 in a research report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Royal Bank of Canada raised their target price on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research report on Tuesday, December 17th. Finally, Canaccord Genuity Group upped their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th.

Insiders Place Their Bets

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares of the company’s stock, valued at $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the sale, the chief executive officer now owns 385,552 shares of the company’s stock, valued at approximately $1,418,831.36. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,796 shares of company stock valued at $823,314 in the last three months. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. grew its position in shares of BlackBerry by 25.7% in the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after purchasing an additional 294,250 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in BlackBerry during the 3rd quarter valued at approximately $1,285,000. State Street Corp grew its holdings in BlackBerry by 1.9% in the 3rd quarter. State Street Corp now owns 1,309,606 shares of the company’s stock valued at $3,431,000 after buying an additional 24,309 shares during the last quarter. BNP Paribas Financial Markets increased its position in BlackBerry by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after buying an additional 11,488 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of BlackBerry by 815.6% during the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock worth $1,361,000 after buying an additional 488,934 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Stock Up 0.2 %

BB stock opened at $4.07 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30. BlackBerry has a 12 month low of $2.01 and a 12 month high of $4.35. The firm has a 50 day simple moving average of $2.92 and a 200 day simple moving average of $2.58.

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

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.