BlackBerry (NYSE:BB) Raised to Buy at TD Securities

TD Securities upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a buy rating in a report issued on Friday, Marketbeat reports. TD Securities currently has $4.00 price objective on the stock, up from their prior price objective of $3.25.

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

BlackBerry Stock Up 23.8 %

BB stock opened at $3.69 on Friday. The company has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.45. 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 12-month low of $2.01 and a 12-month high of $3.89. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -14.76 and a beta of 1.43.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $143.00 million during 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 for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. On average, 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 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 value of $37,962.65. Following the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Several large investors have recently made changes to their positions in BB. EP Wealth Advisors LLC bought a new position in BlackBerry during the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of BlackBerry by 83.3% during the 2nd 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 during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of BlackBerry during the 3rd quarter valued at about $38,000. Werba Rubin Papier Wealth Management purchased a new position in shares of BlackBerry during the 2nd quarter worth about $43,000. Finally, Viewpoint Capital Management LLC purchased a new position in BlackBerry in the 2nd quarter worth about $50,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

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.