BlackBerry (NYSE:BB) Price Target Raised to $3.25

BlackBerry (NYSE:BB) had its price objective upped by TD Securities from $2.75 to $3.25 in a report issued on Wednesday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

BB has been the subject of a number of other reports. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. CIBC increased their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada raised their target price on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BlackBerry presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $3.69 on Wednesday. The company has a market cap of $2.18 billion, a PE ratio of -14.76 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 has a 52 week low of $2.01 and a 52 week high of $3.89. The business has a 50 day moving average price of $2.56 and a 200-day moving average price of $2.46.

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

Insider Transactions at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction that occurred on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC purchased a new position in shares of BlackBerry in the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. grew its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new position in BlackBerry in the 3rd quarter worth approximately $38,000. Werba Rubin Papier Wealth Management bought a new stake in BlackBerry in the second quarter valued at approximately $43,000. Finally, Viewpoint Capital Management LLC purchased a new stake in shares of BlackBerry during the second quarter valued at approximately $50,000. 54.48% of the stock is owned by institutional investors.

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.