BlackBerry (NYSE:BB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of BlackBerry (NYSE:BB) from a sell rating to a hold rating in a research report report published on Wednesday morning.

A number of other equities analysts have also recently weighed in on BB. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research report on Friday, September 27th. CIBC raised their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group upped their target price on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.23.

BlackBerry Stock Performance

Shares of NYSE:BB opened at $2.44 on Wednesday. The company has a market cap of $1.44 billion, a P/E ratio of -9.76 and a beta of 1.42. BlackBerry has a one year low of $2.01 and a one year high of $4.44. The business’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.50. 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 posted its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. On average, sell-side analysts forecast that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackBerry

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in BlackBerry by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock valued at $428,000 after acquiring an additional 11,488 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of BlackBerry by 10.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock worth $1,284,000 after purchasing an additional 46,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BlackBerry by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock worth $3,194,000 after purchasing an additional 11,899 shares during the last quarter. CIBC Asset Management Inc boosted its position in BlackBerry by 8.9% during the 3rd quarter. CIBC Asset Management Inc now owns 700,933 shares of the company’s stock valued at $1,846,000 after purchasing an additional 57,123 shares during the period. Finally, GSA Capital Partners LLP grew its stake in BlackBerry by 189.5% during the 3rd quarter. GSA Capital Partners LLP now owns 165,394 shares of the company’s stock worth $433,000 after buying an additional 108,268 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

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.