BlackBerry Limited (NYSE:BB) Receives Consensus Rating of “Hold” from Analysts

BlackBerry Limited (NYSE:BB) has received an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.20.

Several research analysts have issued reports on BB shares. Raymond James lowered their price objective on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a research report on Friday, June 28th. Canaccord Genuity Group dropped their price target on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research note on Thursday, June 27th. Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Robert W. Baird dropped their target price on BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th.

BlackBerry Stock Performance

NYSE BB opened at $2.25 on Wednesday. The company has a fifty day moving average of $2.36 and a two-hundred day moving average of $2.63. The company has a market capitalization of $1.33 billion, a PE ratio of -7.76 and a beta of 1.39. BlackBerry has a 1 year low of $2.01 and a 1 year high of $5.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. During the same quarter last year, the business posted $0.04 EPS. The firm’s quarterly revenue was down 61.4% compared to the same quarter last year. As a group, analysts expect that BlackBerry will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mattias Eriksson sold 52,549 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $2.45, for a total value of $128,745.05. Following the completion of the transaction, the insider now owns 214,440 shares in the company, valued at $525,378. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. National Bank of Canada FI increased its position in BlackBerry by 10.9% during the fourth quarter. National Bank of Canada FI now owns 310,442 shares of the company’s stock worth $1,067,000 after buying an additional 30,556 shares in the last quarter. Private Advisor Group LLC increased its position in BlackBerry by 28.4% during the 4th quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock worth $90,000 after purchasing an additional 5,645 shares in the last quarter. BNP Paribas Financial Markets raised its stake in BlackBerry by 33.1% in the 4th quarter. BNP Paribas Financial Markets now owns 140,079 shares of the company’s stock valued at $496,000 after purchasing an additional 34,818 shares during the last quarter. Jump Financial LLC purchased a new position in BlackBerry in the 4th quarter valued at about $362,000. Finally, Norges Bank acquired a new stake in shares of BlackBerry during the 4th quarter worth about $48,775,000. 54.48% of the stock is owned by hedge funds and other institutional investors.

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.