Brokerages Set BlackBerry Limited (NYSE:BB) PT at $3.69

Shares of BlackBerry Limited (NYSE:BB) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.69.

A number of equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Robert W. Baird upped their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Friday, December 20th. Canaccord Genuity Group raised their target price on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a report on Friday, December 20th. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, Royal Bank of Canada increased their price objective on BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th.

BlackBerry Stock Down 3.0 %

BB opened at $4.31 on Friday. BlackBerry has a 12 month low of $2.01 and a 12 month high of $4.54. The stock’s 50 day moving average price is $3.57 and its 200 day moving average price is $2.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $2.55 billion, a P/E ratio of -19.57 and a beta of 1.31.

BlackBerry (NYSE:BB) last announced 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. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts predict that BlackBerry will post -0.03 earnings per share for the current year.

Insider Activity at BlackBerry

In other news, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the sale, the insider now directly owns 278,306 shares in the company, valued at $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Masso Torrence Wealth Management Inc. bought a new position in shares of BlackBerry in the fourth quarter valued at about $38,000. Sanctuary Advisors LLC bought a new stake in shares of BlackBerry during the fourth quarter worth approximately $40,000. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the period. Finally, Palacios Wealth Management LLC acquired a new stake in BlackBerry during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.