BlackBerry Limited (NYSE:BB) Given Average Recommendation of “Hold” by Analysts

Shares of BlackBerry Limited (NYSE:BB) have earned an average rating of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Six 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 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.26.

BB has been the subject of several research reports. Canaccord Genuity Group boosted their target price on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. CIBC increased their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th.

BlackBerry Stock Up 3.6 %

BB stock opened at $3.20 on Friday. The stock has a market cap of $1.89 billion, a P/E ratio of -12.80 and a beta of 1.43. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.36. The company’s 50 day moving average is $2.49 and its two-hundred day moving average is $2.44.

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

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackBerry

A number of institutional investors have recently modified their holdings of the business. EdgePoint Investment Group Inc. grew its position in BlackBerry by 15.9% during the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company’s stock worth $31,238,000 after buying an additional 1,637,916 shares during the period. Millennium Management LLC grew its position in shares of BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company’s stock valued at $8,510,000 after purchasing an additional 3,369,296 shares during the last quarter. Bank of Montreal Can lifted its stake in BlackBerry by 32.7% in the 2nd quarter. Bank of Montreal Can now owns 1,733,809 shares of the company’s stock valued at $4,300,000 after buying an additional 427,083 shares in the last quarter. TD Asset Management Inc grew its holdings in BlackBerry by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 1,496,185 shares of the company’s stock valued at $3,740,000 after buying an additional 21,259 shares during the last quarter. Finally, Intact Investment Management Inc. increased its position in BlackBerry by 25.7% during the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock worth $3,789,000 after buying an additional 294,250 shares in the last quarter. 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.