BlackBerry Limited (NYSE:BB – Get Free Report) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.13.
BB has been the topic of several research analyst reports. TD Securities reduced their price objective on BlackBerry from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, October 5th. StockNews.com began coverage on shares of BlackBerry in a report on Thursday, October 5th. They issued a “sell” rating for the company. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $5.37 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, August 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.50 target price on shares of BlackBerry in a research note on Friday, September 29th. Finally, CIBC lowered their target price on BlackBerry from $5.50 to $4.75 and set a “neutral” rating for the company in a report on Wednesday, October 18th.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BB. Sequoia Financial Advisors LLC purchased a new stake in BlackBerry in the 3rd quarter worth approximately $48,000. Barclays PLC raised its holdings in shares of BlackBerry by 3.1% during the third quarter. Barclays PLC now owns 256,199 shares of the company’s stock worth $1,207,000 after acquiring an additional 7,785 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of BlackBerry during the third quarter worth $195,000. CIBC Asset Management Inc boosted its position in BlackBerry by 3.3% during the third quarter. CIBC Asset Management Inc now owns 503,926 shares of the company’s stock valued at $2,393,000 after purchasing an additional 16,280 shares during the last quarter. Finally, PBMares Wealth Management LLC purchased a new position in BlackBerry in the third quarter valued at about $57,000. Hedge funds and other institutional investors own 42.66% of the company’s stock.
BlackBerry Price Performance
Shares of BlackBerry stock opened at $3.74 on Thursday. BlackBerry has a 1-year low of $3.17 and a 1-year high of $5.75. The company has a market capitalization of $2.18 billion, a PE ratio of -3.63 and a beta of 1.54. The business has a 50-day moving average of $4.33 and a 200-day moving average of $4.78.
BlackBerry (NYSE:BB – Get Free Report) last released its quarterly earnings results on Thursday, September 28th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $132.00 million during the quarter, compared to the consensus estimate of $134.25 million. BlackBerry had a negative net margin of 66.91% and a negative return on equity of 7.11%. The business’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. On average, equities analysts expect 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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.
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