BlackBerry Limited (NYSE:BB – Get Free Report) 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.
Check Out Our Latest Analysis on BB
Insider Buying and Selling
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 – Get Free Report) 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.
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