TD Securities Forecasts Strong Price Appreciation for BlackBerry (NYSE:BB) Stock

BlackBerry (NYSE:BB) had its price target upped by TD Securities from $2.75 to $3.25 in a research report report published on Wednesday,BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

A number of other research firms also recently issued reports on BB. CIBC increased their price target on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group raised their target price on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada increased their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

BlackBerry Trading Up 23.8 %

NYSE BB opened at $3.69 on Wednesday. The stock has a market cap of $2.18 billion, a P/E ratio of -14.76 and a beta of 1.43. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $3.89. The stock has a 50 day simple moving average of $2.56 and a two-hundred day simple moving average of $2.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. On average, analysts forecast that BlackBerry will post -0.06 earnings per share for the current year.

Insider Transactions at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of BlackBerry by 60.2% during the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock valued at $652,000 after buying an additional 93,651 shares during the last quarter. Toronto Dominion Bank boosted its stake in BlackBerry by 5.3% during the 3rd quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after purchasing an additional 36,372 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of BlackBerry by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after purchasing an additional 7,652 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of BlackBerry in the third quarter worth $410,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of BlackBerry by 121.1% during the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock valued at $99,000 after purchasing an additional 20,771 shares in the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

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.