Brokerages Set BlackBerry Limited (NYSE:BB) Target Price at $5.38

Shares of BlackBerry Limited (NYSE:BB – Get Rating) have received a consensus recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $5.50.

A number of research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of BlackBerry from $4.25 to $5.00 in a research note on Thursday. TD Securities upgraded shares of BlackBerry from a “reduce” rating to a “hold” rating and lifted their target price for the company from $3.75 to $4.00 in a research note on Friday, March 31st. StockNews.com started coverage on shares of BlackBerry in a research note on Thursday. They issued a “sell” rating for the company. Robert W. Baird lifted their target price on shares of BlackBerry from $5.00 to $5.50 in a research note on Thursday. Finally, CIBC upgraded shares of BlackBerry from a “sector underperform” rating to a “neutral” rating and lifted their target price for the company from $4.20 to $6.50 in a research note on Thursday.

Insider Buying and Selling

In related news, insider Marjorie Dickman sold 28,237 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $4.63, for a total value of $130,737.31. Following the completion of the transaction, the insider now owns 35,372 shares in the company, valued at approximately $163,772.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of BlackBerry

A number of institutional investors have recently bought and sold shares of the business. Belpointe Asset Management LLC grew its holdings in BlackBerry by 8.2% during the 4th quarter. Belpointe Asset Management LLC now owns 31,162 shares of the company’s stock worth $102,000 after acquiring an additional 2,355 shares during the period. CI Investments Inc. grew its holdings in shares of BlackBerry by 6.4% in the 3rd quarter. CI Investments Inc. now owns 43,580 shares of the company’s stock valued at $205,000 after buying an additional 2,614 shares during the period. FMR LLC grew its holdings in shares of BlackBerry by 11.7% in the 2nd quarter. FMR LLC now owns 27,322 shares of the company’s stock valued at $147,000 after buying an additional 2,851 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of BlackBerry by 17.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 26,640 shares of the company’s stock valued at $125,000 after buying an additional 3,892 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of BlackBerry by 29.3% in the 1st quarter. Raymond James & Associates now owns 17,487 shares of the company’s stock valued at $80,000 after buying an additional 3,966 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

BlackBerry Stock Down 0.6 %

Shares of BB opened at $5.38 on Thursday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -3.90 and a beta of 1.59. BlackBerry has a 12 month low of $3.17 and a 12 month high of $7.20. The company has a 50-day moving average price of $4.35 and a two-hundred day moving average price of $4.15.

BlackBerry (NYSE:BB – Get Rating) last announced its quarterly earnings results on Friday, March 31st. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $151.00 million during the quarter, compared to analysts’ expectations of $150.97 million. BlackBerry had a negative net margin of 111.89% and a negative return on equity of 10.91%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. Equities research analysts expect that BlackBerry will post -0.19 EPS for the current fiscal year.

About BlackBerry

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BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, and data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.