BlackBerry Limited (NYSE:BB) Receives Consensus Rating of “Hold” from Brokerages

BlackBerry Limited (NYSE:BB) has received an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $4.08.

A number of research firms have recently commented on BB. Raymond James cut their target price on BlackBerry from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, December 21st. StockNews.com cut BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a report on Thursday. Canaccord Genuity Group cut their target price on shares of BlackBerry from $5.00 to $4.25 and set a “hold” rating on the stock in a report on Thursday, December 21st. Finally, Robert W. Baird decreased their price target on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, February 14th.

Insider Buying and Selling at BlackBerry

In other news, CEO John Joseph Giamatteo sold 18,279 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.23, for a total transaction of $59,041.17. Following the transaction, the chief executive officer now directly owns 206,090 shares in the company, valued at $665,670.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO John Joseph Giamatteo sold 18,279 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $3.23, for a total transaction of $59,041.17. Following the transaction, the chief executive officer now owns 206,090 shares of the company’s stock, valued at $665,670.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steve Rai sold 20,047 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $3.25, for a total value of $65,152.75. Following the completion of the sale, the chief financial officer now directly owns 84,599 shares of the company’s stock, valued at approximately $274,946.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,090 shares of company stock valued at $142,812. 1.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackBerry

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. purchased a new position in shares of BlackBerry in the third quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new position in BlackBerry during the third quarter worth about $28,000. Highlander Capital Management LLC raised its position in BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after acquiring an additional 3,500 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of BlackBerry by 470.1% in the third quarter. Tower Research Capital LLC TRC now owns 9,019 shares of the company’s stock valued at $43,000 after purchasing an additional 7,437 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of BlackBerry in the third quarter valued at approximately $48,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Stock Down 2.1 %

Shares of BB opened at $2.82 on Friday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -11.75 and a beta of 1.41. BlackBerry has a 52-week low of $2.46 and a 52-week high of $5.75. The stock has a 50 day moving average price of $2.76 and a 200 day moving average price of $3.41.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $150.47 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that BlackBerry will post -0.13 EPS 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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.