Brokerages Set BlackBerry Limited (NYSE:BB) Price Target at $4.08

Shares of BlackBerry Limited (NYSE:BB) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $4.08.

Several brokerages have recently issued reports on BB. StockNews.com downgraded BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. CIBC lowered their price target on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a report on Thursday, April 4th. Finally, Robert W. Baird decreased their target price on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th.

BlackBerry Stock Performance

Shares of BB opened at $2.93 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. BlackBerry has a 12-month low of $2.46 and a 12-month high of $5.75. The business’s fifty day moving average price is $2.81 and its 200 day moving average price is $3.22. The stock has a market capitalization of $1.73 billion, a PE ratio of -12.21 and a beta of 1.40.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. BlackBerry’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) earnings per share. Equities research analysts forecast that BlackBerry will post -0.09 EPS for the current year.

Insider Activity at BlackBerry

In related news, Director Philip G. Brace purchased 35,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the acquisition, the director now directly owns 35,000 shares in the company, valued at approximately $97,650. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.94% of the stock is currently owned by insiders.

Institutional Trading of BlackBerry

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in shares of BlackBerry by 31.3% in the third quarter. SG Americas Securities LLC now owns 89,360 shares of the company’s stock worth $421,000 after buying an additional 21,324 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of BlackBerry in the third quarter valued at approximately $103,000. Maryland State Retirement & Pension System lifted its stake in shares of BlackBerry by 2.1% in the third quarter. Maryland State Retirement & Pension System now owns 430,295 shares of the company’s stock worth $2,038,000 after buying an additional 9,019 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in BlackBerry by 13.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,025 shares of the company’s stock worth $509,000 after acquiring an additional 12,607 shares during the last quarter. Finally, PBMares Wealth Management LLC bought a new stake in BlackBerry during the third quarter valued at about $57,000. 54.48% of the stock is owned by 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.