BlackBerry Limited (NYSE:BB) Receives $3.23 Consensus PT from Analysts

BlackBerry Limited (NYSE:BB) has been given a consensus recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $3.23.

Several analysts have issued reports on the stock. CIBC upped their price target 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 objective 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, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 30,129 shares of the company’s stock, valued at $76,226.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Trading of BlackBerry

Institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC bought a new position in shares of BlackBerry during the second quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new stake in shares of BlackBerry during the 2nd quarter valued at $43,000. Viewpoint Capital Management LLC acquired a new stake in shares of BlackBerry during the 2nd quarter worth $50,000. Finally, Signaturefd LLC lifted its position in BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after purchasing an additional 9,063 shares during the period. Institutional investors own 54.48% of the company’s stock.

BlackBerry Price Performance

NYSE:BB opened at $2.39 on Thursday. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.44. The company has a market cap of $1.41 billion, a P/E ratio of -8.24 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.55.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, sell-side analysts forecast that BlackBerry will post -0.06 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 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.