Analysts Set BlackBerry Limited (NYSE:BB) PT at $3.60

Shares of BlackBerry Limited (NYSE:BB) have been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.60.

A number of research firms recently commented on BB. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Robert W. Baird boosted their price target on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, CIBC raised their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th.

BlackBerry Stock Up 0.2 %

BB stock opened at $4.07 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $2.92 and its 200 day moving average price is $2.58. BlackBerry has a 52 week low of $2.01 and a 52 week high of $4.35. The company has a market cap of $2.41 billion, a P/E ratio of -16.28 and a beta of 1.30.

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

Insider Buying and Selling

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $50,720.00. Following the transaction, the insider now owns 278,306 shares of the company’s stock, valued at $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Joseph Giamatteo sold 29,402 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the sale, the chief executive officer now directly owns 490,761 shares in the company, valued at approximately $1,963,044. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,796 shares of company stock worth $823,314. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several large investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC bought a new position in shares of BlackBerry in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of BlackBerry during the 3rd quarter valued at $38,000. Werba Rubin Papier Wealth Management acquired a new position in shares of BlackBerry during the 2nd quarter valued at $43,000. Finally, Signaturefd LLC raised its stake in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.