BlackBerry Limited (NYSE:BB) Stock Has Average Target Price of $9.86

BlackBerry Limited (NYSE:BB) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.86.

Several brokerages have issued reports on BB. Canaccord Genuity Group dropped their price objective on BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a report on Friday, September 25th. Zacks Research lowered shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Canadian Imperial Bank of Commerce lifted their target price on BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a research note on Friday, June 26th. TD increased their price target on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th.

Insider Activity

In related news, CFO Tim Foote sold 8,441 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.36, for a total transaction of $70,566.76. Following the sale, the chief financial officer directly owned 71,616 shares in the company, valued at approximately $598,709.76. This trade represents a 10.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Christopher Wall sold 3,474 shares of BlackBerry stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $9.18, for a total value of $31,891.32. Following the sale, the insider directly owned 13,924 shares in the company, valued at approximately $127,822.32. The trade was a 19.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 384,433 shares of company stock worth $3,481,255 in the last quarter. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Several large investors have recently made changes to their positions in BB. Howland Capital Management LLC bought a new stake in shares of BlackBerry during the 3rd quarter worth $136,000. Louisbourg Investments Inc. purchased a new position in shares of BlackBerry in the third quarter worth approximately $6,897,000. IFP Advisors Inc acquired a new stake in shares of BlackBerry during the third quarter valued at approximately $45,000. Counterpoint Mutual Funds LLC boosted its position in shares of BlackBerry by 103.6% in the third quarter. Counterpoint Mutual Funds LLC now owns 1,282,610 shares of the company’s stock worth $11,595,000 after buying an additional 652,558 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in shares of BlackBerry during the third quarter valued at $861,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Price Performance

Shares of NYSE BB opened at $8.57 on Tuesday. The firm has a 50-day simple moving average of $8.33 and a 200-day simple moving average of $8.13. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 55.35 and a beta of 2.20. BlackBerry has a 52 week low of $3.12 and a 52 week high of $13.59.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities analysts predict that BlackBerry will post 0.17 earnings per share for the current fiscal year.

About BlackBerry

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.