BlackBerry Limited (NYSE:BB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

BlackBerry Limited (NYSE:BB) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $3.69.

BB has been the topic of several research analyst reports. TD Securities upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird boosted their target price on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada raised their price target on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, January 10th. Canaccord Genuity Group boosted their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Finally, TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th.

Insider Activity

In related news, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total value of $102,340.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Joseph Giamatteo sold 29,402 shares of BlackBerry stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $117,608.00. Following the completion of the transaction, the chief executive officer now owns 490,761 shares in the company, valued at $1,963,044. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 244,221 shares of company stock valued at $925,655. Insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several hedge funds have recently added to or reduced their stakes in BB. Northwestern Mutual Wealth Management Co. increased its position in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after buying an additional 5,349 shares during the period. Geode Capital Management LLC grew its stake in shares of BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after acquiring an additional 7,652 shares during the last quarter. International Assets Investment Management LLC raised its stake in BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in BlackBerry by 1.3% in the 4th quarter. CIBC Asset Management Inc now owns 709,720 shares of the company’s stock valued at $2,690,000 after purchasing an additional 8,787 shares during the period. Finally, Signaturefd LLC grew its position in BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after purchasing an additional 9,063 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Up 1.6 %

Shares of NYSE BB opened at $5.25 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry has a one year low of $2.01 and a one year high of $5.34. The business has a 50-day moving average price of $3.71 and a two-hundred day moving average price of $2.85. The firm has a market capitalization of $3.10 billion, a PE ratio of -23.84 and a beta of 1.31.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million during the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. As a group, analysts predict that BlackBerry will post -0.03 earnings per share for the current fiscal year.

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.